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Check my workCheck My Work button is now disabled Item11 Item 11 10 points An economist...

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Item11

Item 11 10 points

An economist estimated that the cost function of a single-product firm is:

C(Q) = 100 + 25Q + 15Q2 + 5Q3.

Based on this information, determine the following:

a. The fixed cost of producing 10 units of output.

$  

b. The variable cost of producing 10 units of output.

$  

c. The total cost of producing 10 units of output.

$  

d. The average fixed cost of producing 10 units of output.

$  

e. The average variable cost of producing 10 units of output.

$  

f. The average total cost of producing 10 units of output.

$  

g. The marginal cost when Q = 10.

$  

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Answer #1

Total cost is the sum of Fixed cost + variable cost

TC=FC+VC

ANSUER lo0 Vadlebte (ost ot prdeg lo units of oups 6+50 o 6750 6850 Total $6850 Average Pxedes ot produting ho units of odpd er 0 te Aveye vemebie /SAveragcotelt ot fovo duy lo unike

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