An economist estimated that the cost function of a single-product firm is:
C(Q) = 120 + 20Q + 25Q2 + 10Q3.
Based on this information, determine the following:
a. The fixed cost of producing 10 units of output.
$
b. The variable cost of producing 10 units of output.
$
c. The total cost of producing 10 units of output.
$
d. The average fixed cost of producing 10 units of output.
$
e. The average variable cost of producing 10 units of output.
$
f. The average total cost of producing 10 units of output.
$
g. The marginal cost when Q = 10.
$