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Answer to Question #317274 in Economics for Anna
Question #317274
The marginal cost function of a firm is 2 + 3e^x Find the
total and average cost functions if the fixed cost is Rs. 500.
Expert's answer
Total cost is TC=FC+MC×Q=500+(2+3e^x)×Q;
Average cost is AC=TC/Q=500/Q+2+3e^x
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