Mathematics, 27.12.2020 01:00, k11kiki

Given the following cost function: TC = 1500 + 15Q – 6Q2 + Q3
i. Determine the total fixed cost for producing 1000 units of output and 500 units of output.
ii. What is AFC at:
a) 1000 units of output
b) 500 units of output
iii. Determine TVC, AVC, MC and AC at 50 units of output.

Answers: 1

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Given the following cost function: TC = 1500 + 15Q – 6Q2 + Q3
i. Determine the total fixed co...