Please provide how you came to your answer, I need to learn, not to cheat :) Ott

Question

Please provide how you came to your answer, I need to learn, not to cheat :)

Otto's brother, Dent Carr, is in the auto repair business. Dent recently had little else to do and ecided to calculate his cost conditions. He found that the total cost of repairing s cars is TC (s)= 2s^2+10. But Dent's attention was diverted to other things.. and thats where you come in. please complete the following.

Dent's Total Variable Costs:_______

Total Fixed costs:_______

AVerage Variable Costs:_______

Average Total Costs:________

Marginal Costs:________

Explanation / Answer

total variable cost is the cost which varies with the value of 's' , hence =2s^2....total fixed cost is the cost which remains fixed ,hence=10....average variable cost is obtained by dividing total variable cost by the quantity 's' hence=2s........average total cost is obtained by dividing total cost with the quantity 's',hence=2s+(10/s)....marginal cost is the cost incurred to produce one additional product,which is obtained by differentiating total cost wrt 's',hence MC=4s....plz rate :)

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