(Solution) An economist estimated that the cost function of a single-product firm is: C(Q) = 90 + 35Q + 25Q2 + 10Q3. Based on this information, determine the... > Snapessays.com


(Solution) An economist estimated that the cost function of a single-product firm is: C(Q) = 90 + 35Q + 25Q2 + 10Q3. Based on this information, determine the...


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

 

C(Q) = 90 + 35Q + 25Q2 + 10Q3.

 

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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This question was answered on: Sep 21, 2023

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