| Author: | Homework Help Classof1 | ISBN: | 1230000148131 |
| Publisher: | Classof1 | Publication: | July 4, 2013 |
| Imprint: | Language: | English |
| Author: | Homework Help Classof1 |
| ISBN: | 1230000148131 |
| Publisher: | Classof1 |
| Publication: | July 4, 2013 |
| Imprint: | |
| Language: | English |
The short-run cost function of a company is given by the equation TC=200+55q, where TC is the total cost and q is the total quantity of output, both measured in thousands.
(a) What is the company’s fixed
(b) If the company produced 100,000 units of goods, what is its average variable cost?
(c) What is its marginal cost per unit produced?
(d) What is its average fixed cost?
The short-run cost function of a company is given by the equation TC=200+55q, where TC is the total cost and q is the total quantity of output, both measured in thousands.
(a) What is the company’s fixed
(b) If the company produced 100,000 units of goods, what is its average variable cost?
(c) What is its marginal cost per unit produced?
(d) What is its average fixed cost?
