### Cost accounting

1. Consider the cost function: C = 60 + 20Q + 30Q^2 with MC = 20 +60Q (here Q denotes output) Part A) Write down the expression for the average cost. Part B) What is the output elasticity of the total cost at output level of Q = 1 ? Part C) At an output of 1, does the cost function exhibit economies of scale, diseconomies o