. 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
7 answers
What is the value of fixed costs?
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
anuwar
Economics
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?
YES
fc 300