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Homework answers / question archive / Suppose we have the following cost function: C(Q)-202-3Q+150 Given this cost function: at Q=10, Marginal cost is average variable cost is For each answer write down a and average fixed cost is whole number with no decimals

Suppose we have the following cost function: C(Q)-202-3Q+150 Given this cost function: at Q=10, Marginal cost is average variable cost is For each answer write down a and average fixed cost is whole number with no decimals

Economics

Suppose we have the following cost function: C(Q)-202-3Q+150 Given this cost function: at Q=10, Marginal cost is average variable cost is For each answer write down a and average fixed cost is whole number with no decimals.

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Marginal cost: 43

Explanation :

MC can be find by taking derivative of total cost

MC =dTC /dQ

=4Q+3

MC at quantity 10.

MC =4(10)+3

=40+3

=43

2.

Average variable cost :23

Explanation :

2Q^2+3Q is variable cost.

AVC =VC /Q

=2Q^2 +3Q/(Q)

=2Q+3

AVC At quantity 10,

AVC =2(10)+3

=23

3.

Average fixed cost : 15

Explanation:

150 is fixed cost in cost function.

AFC =FC /Q

=150/10

=15.

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