Question #149984
IF THE TOTAL COST FUNCTION OF A FIRM IS GIVEN AS TC= Q raise to power 3+8Q raise to power 2+ 6Q+200
Determine the function of 1. AVERAGE VARIABLE COST
2.AVERAGE TOTAL COST
3.AVERAGE FIXED COST
4. MARGINAL COST @ Q=5
Expert's answer
TC = Q3+8Q2+6Q+200
Average Total cost = TC / Q = Q2+8Q+6+200/Q
Average Fixed cost = 200/Q
Average Variable cost = Q2+8Q+6
MC = d(TC)/dQ = 3Q2+16Q+6
Q @ 5 , MC = 3(5)2+15(5)+6 = 156
