Different cost calculations with given the cost equation
Suppose you hire a furloughed Wall Street analyst to help you analyze your production process also she uses your historical cost records to estimate which your total cost function is C(Q) = 100 + 2Q + 3.5Q2. Using this equation, answer the following also Explain how your logic also calculations.
a. Explain how much is your industry's profit or loss at an output of zero? Elucidate.
b. With the above cost equation, average total costs (ATC), first decline as output increases also then begin to rise. Assuming output occurs in whole units, i.e. 1, 2, 3 at Illustrate what output does the low point of ATC occur also illustrate what is the ATC at which output? Explain how your calculations.
c. Illustrate what is the total cost of an output of 500?
d. Illustrate what is the Average Variable Cost (AVC) at a production level of 10?