4.)the cost function for a firm is given by TC = 4,000 + 0.1Q+ .01Q*Q. marginal

Question

4.)the cost function for a firm is given by TC = 4,000 + 0.1Q+ .01Q*Q. marginal costs are given by MC = 0.1 + 0.02Q. the firms fixed cost (FC) is ??

5) the cost function for a firm is given by TC = 4,000 + 0.1Q+ .01Q^2. marginal costs are given by MC = 0.1 + 0.02Q. the firms total variable cost when q=100 is???

6) the cost function for a firm is given by TC = 4,000 + 0.1Q+ .01Q^2. marginal costs are given by MC = 0.1 + 0.02Q. the firms average variable cost (AVC) when output is 200 is??

7) the cost function for a firm is given by TC = 4,000 + 0.1Q+ .01Q2. marginal costs are given by MC = 0.1 + 0.02Q. What is the marginal cost of produce the 100th unit of output???

Explanation / Answer

4) fixed cost does not depend on output. So it is that part of total cost which does not have Q. FC=4000.

5) total variable cost depends on output. So that part of total cost which is with Q. Total variable cost= 0.1Q + 0.01Q^2 .

Put Q= 100, total variable cost= 0.1(100)+0.01(100)^2= 110

6) average variable cost= total variable cost / output

= (0.1Q+0.01Q^2) / Q = 0.1+0.01Q

Put Q= 200

AVC= 0.1+0.01(200)= 2.1

7) put Q= 100 into MC

MC= 0.1+0.02(100)= 2.1

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