Homework Answers
(4) TC(Q) = 10 + 2Q + 4Q2
(A) Fixed cost (FC) = 10 (since fixed cost is independent of Q)
(B) Variable cost (VC) = 2Q + 4Q2 (since VC is dependent of Q)
(C) Average fixed cost (AFC) = FC/Q = 10/Q
(D) Average variable cost (AVC) = VC/Q = 2 + 4Q
(E) Average total cost = AFC + AVC = (10/Q) + 2 + 4Q
NOTE: As per Answering Policy, 1st question is answered.
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