The short-run cost function of a company is given by the equation TC = 200 + 55q, where TC s the total cost and q is the total quantity of output, both measured in thousands. a) What is the company's fixed cost? b) If the company produced 100,000 units of good, what would be its average variable cost? c) What would be its marginal cost of production? d) What would be its average fixed cost?

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