For each of the following cost functions, find MC, AC, and AVC

a. TC = 20,000 + 10 Q
b. TC = 18,000 + Q + 0.2 Q2

a. MC = 10
AC = (20,000/Q) + 10
AVC = 10
b. MC = 1 + 0.4Q
AC = (18,000/Q) + 1 + 0.2Q
AVC = 1 + 0.2Q

Economics

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Which of the following is good evidence against the classical view of Say's law?

A) Investment does not always rise as interest rates fall. B) Consumption falls by the amount that saving increases. C) Exports are usually greater than imports. D) People save more at higher interest rates than lower interest rates. E) none of the above

Economics

The profit maximizing combination of two products to produce is found

A) Where the percentage change in the prices of the two products is equal. B) Where the iso-revenue line is tangent to the production possibilities curve. C) Where the marginal physical products of the two products is equal. D) Where the iso-revenue line intersects the production possibilities curve.

Economics