A firm has total cost of TC(y)=y²+1 and marginal cost of MC(y)=2y. What is the firm's average variable cost?
Firm's average variable cost = Variable cost / y
Variable cost = y2
so, Firm's average variable cost = y2 / y = y
Ans is Firm's average variable cost = y
A firm has total cost of TC(y)=y²+1 and marginal cost of MC(y)=2y. What is the firm's...
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suppose a firm's total cost of production (TC) is tc=2Q^2
mc=4Q
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