Question
. The short run cost function of the firm is of the form: TC = 300 + 50Q - 10Q2 + Q3.
a) What is the value of fixed costs?
b) Write expressions for ATC, AVC, AFC and the marginal cost.
c) Calculate the output at which average total costs are minimized
a) What is the value of fixed costs?
b) Write expressions for ATC, AVC, AFC and the marginal cost.
c) Calculate the output at which average total costs are minimized
Answers
Dejene
What is the value of fixed costs?
Dejene
The short run cost function of the firm is of the form: TC = 300 + 50Q - 10Q2 + Q3.
a) What is the value of fixed costs?
b) Write expressions for ATC, AVC, AFC and the marginal cost.
c) Calculate the output at which average total costs are minimized
a) What is the value of fixed costs?
b) Write expressions for ATC, AVC, AFC and the marginal cost.
c) Calculate the output at which average total costs are minimized
Dejene
anuwar
Kenziladi
Economics
abdulakimzenu
7. The short run cost function of the firm is of the form: TC = 300 + 50Q - 10Q2 + Q3. A. What is the value of fixed costs? (1 pts.) B. Write expressions for ATC, AVC, AFC and the marginal cost. (2 pts.) C. Calculate the output at which average total costs are minimized?
TOLASA
YES
Abubukri Husein5
fc 300