21) For the cost function CrO)- 100 - 3nal cot of producins the marginal cost of

Question

21) For the cost function CrO)- 100 - 3nal cot of producins the marginal cost of producing 2 units of output is: B) 3. C) 12. D) 14. 22) For the cost function C(Q)- 100+2Q+3?, the average fixed cost of producing 2 units of output average f is: A) 100. B) 50. C) 3. D) 2. 23) For the cost function A) 16. B) 12. C) 4. D) 116. C(Q)-100+ 2Q + 3Q, the variable cost of producing 2 units of output is 24) If the last unit of input increases total product, we know that the marginal product is: A) positive. B) negative. C) zero. D) indeterminate. 25) The difference between average total costs and average variable costs is: A) marginal cost. B) average fixed cost. C) fixed cost. D) None of the statements is correct.

Explanation / Answer

21. C(Q) = 100 + 2Q + 3Q2

MC = d[C(Q)]/dQ = 2 + 6Q

If Q = 2, MC = 2 + (6*2) = 14

Answer-option D

22. C(Q) = 100 + 2Q + 3Q2

Here, Total variable cost (TVC) = 2Q+3Q2 and Total Fixed costs (TFC) = 100

AFC = TFC/Q

If Q=2, AFC = 100/2 = 50

Answer-option B

23. C(Q) = 100 + 2Q + 3Q2

Here, TVC = 2Q + 3Q2

If Q=2, TVC = (2*2)+(3*22) = 4 + 12 = 16

Answer- option A

Related Questions

Navigate

• Browse (All)
• Browse 2
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.