Finding variable cost of producing units of output, Microeconomics

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Finding variable cost of producing units of output

Q1) Economist estimated that cost function of single-product firm is C (Q) = 50 + 25Q + 30Q2 + 5Q3
Based on this information, find out:

a. Fixed cost of producing 10 units of output.

b. Variable cost of producing 10 units of output.

c. Total cost of producing 10 units of output.

d. Average fixed cost of producing 10 units of output.

e. Average variable cost of producing 10 units of output.

f. Average total cost of producing 10 units of output.

g. Marginal cost when Q = 10.

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Microeconomics: Finding variable cost of producing units of output

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Microeconomics: Finding variable cost of producing units of output

Reference No:- TGS022828

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

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Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Finding variable cost of producing units of output

Reference No:- TGS022828

Recent Questions Asked Microeconomics

Q : Finding market rate of substitution between food and goods

Q : Work out the coefficient of determination for the equation

Q : Calculate expected total factory overhead

Q : Estimating r square from the regression equation

Q : Finding variable cost of producing units of output

Q : Using the high low method

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