2A firm's total cost curve is TC = Q³ - 200² + 450+ 200. its marginal cost is 30² - 400 +45 Identify the firm's: (enterexponents using a caret (uarr), e.g., enter Q³ as Q³)A firm's total cost curve is TC = Q3-2002 + 45Q+ 200. Its marginal cost is3Q² - 40Q+45Identify the firm's: (enter exponents using a caret (^), e.g., enter Q³ as Q^3)fixed cost:variable cost:average total cost:average variable cost:

Total cost(TC) refers to the overall expense incurred by a firm in producing a certain quantity of…

A firm's total cost curve is TC-Q3-20Q2 +45Q+ 200. Its marginal cost is 3Q² - 40Q+45 Identify the firm's: (enter exponents using a caret (^), e.g., enter Q3 as Q^3) fixed cost: variable cost: average total cost: average variable cost:

A firm's total cost curve is TC-Q3-20Q2 +45Q+ 200. Its marginal cost is 3Q² - 40Q+45 Identify the firm's: (enter exponents using a caret (^), e.g., enter Q3 as Q^3) fixed cost: variable cost: average total cost: average variable cost:

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Proudction Costs

Section: Chapter Questions

Problem 9SQP

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Question

2
A firm's total cost curve is TC = Q³ - 200² + 450+ 200. its marginal cost is 30² - 400 +45 Identify the firm's: (enter
exponents using a caret (uarr), e.g., enter Q³ as Q³)
A firm's total cost curve is TC = Q3-2002 + 45Q+ 200. Its marginal cost is
3Q² - 40Q+45
Identify the firm's: (enter exponents using a caret (^), e.g., enter Q³ as Q^3)
fixed cost:
variable cost:
average total cost:
average variable cost:

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Step 1: Define total cost(TC) and marginal cost(MC)

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Step 2: Determine the fixed cost

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Step 3: Determine the variable cost(VC)

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Step 4: Determine the average total cost(ATC)

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Step 5: Determine the average variable cost(AVC)

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