Estimated the firm-s average variable cost function, Microeconomics

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Estimated the firm-s average variable cost function

Suppose the manager of a firm operating in a competitive market has estimated the firm's average variable cost function to be

AVC = 10-0.03Q + 0.00005Q2, Total fixed cost $600.

a) what is the corresponding marginal cost function?
b) at what output is AVC at its minimum?
c) What is the minimum value for AVC?

if the forecasted price of the firm's output is$10 per unit :

a) how much output will the firm produce in short run?
b) how much profit (loss) will the firm earn?

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Microeconomics: Estimated the firm-s average variable cost function

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Microeconomics: Estimated the firm-s average variable cost function

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Microeconomics: Estimated the firm-s average variable cost function

Reference No:- TGS075595

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