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Author Question: Given the total cost function TC = 100 + 40Q - 15Q2 + 5Q3, calculate the a. average fixed cost ... (Read 110 times)

nautica902

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on: Jul 1, 2018
Given the total cost function TC = 100 + 40Q - 15Q2 + 5Q3, calculate the
 
  a. average fixed cost function (AFC)
  b. average variable cost function (AVC)
  c. marginal cost function (MC)

Question 2

In a small town, it snowed 10 times on Christmas Eve during 25 years. What is the frequency of snowing on Christmas Eve in that small town?
 
  A) 10
  B) 25
  C) 2.5
  D) 0.4


Juro

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Reply #1 on: Jul 1, 2018
Answer to Question 1

a. AFC = 100/Q
b. AVC = 40 - 15Q + 5Q2
c. MC = 40 - 30Q + 15Q2

Answer to Question 2

D


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