For the given cost function, find TFC and MC, TC = 10,000 +10Q
1. TFC = $10,000 & MC = $10
2. TFC = $10 & MC = $(10,000/Q) + $10
3. TFC = $10,000 & MC = $10,000
4. TFC = $10 & MC = $10
Pls explain how to get TFC & MC thanks!
Answer: Option (1) TFC = $10,000 & MC = $10
Marginal cost is the derivative of the cost function, so take the derivative and evaluate it.
MC = dTC/dQ
Fixed cost is incurred whether or not any output is produced. So total fixed cost (TFC) is the total cost when quantity produced is zero.
TFC = TC (when Q=0)
For the given cost function, find TFC and MC, TC = 10,000 +10Q 1. TFC =...
For the given cost function, find TFC and MC, TC = 10,000 +10Q 1. TFC = $10,000 & MC = $10 2. TFC = $10 & MC = $(10,000/Q) + $10 3. TFC = $10,000 & MC = $10,000 4. TFC = $10 & MC = $10
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