antora
Badges: 1
Rep:
?
#1
Report Thread starter 3 months ago
#1
We give below short-run total cost function:
TC = 100 + 50Q – 12Q2 + Q3 where TC is total cost and Q is level of output.
(i) Determine (a) total fixed cost function (b) total variable cost function
(c) average variable cost function, (d) marginal cost function.
(ii) Calculate TC, ATC, AVC and MC when the firm produces 10 units of output.
(iii) Calculate the level of output at which AVC is minimum.
0
reply
X

Quick Reply

Attached files
Write a reply...
Reply
new posts
Back
to top
Latest
My Feed

See more of what you like on
The Student Room

You can personalise what you see on TSR. Tell us a little about yourself to get started.

Personalise

Are you worried that a cap in student numbers would affect your place at uni?

Yes (246)
60.29%
No (84)
20.59%
Not sure (78)
19.12%

Watched Threads

View All