Estimating cost function of single-product firm

Question

Problem 1: An economist estimated that he cost function of single-product firm is

C(Q) = 100 + 20Q + 15Q² + 10Q³

Based on this information, determine:

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

Problem 2. A firm’s fixed costs for producing 0 units of output and its average total cost of producing different output levels are summarized in the tale below.

Complete the table to find the fixed cost, variable cost, total cost, average fixed cost, average variable cost, and marginal cost at all levels of output.

Q	FC	VC	TC	AFC	AVC	ATC	MC
0	$15,000					-----
100						$300
200						200
300						175
400						225
500						325
600						400