15) If TVC is equal to 100 - 2Q2 +5Q3 ( one hundred minus two Q squared plus five Q cube) then

a) AVC equals 100/Q - 2Q + 10Q3 (one hundred divided by Q minus 2Q plus 10 Q cube)

B) AVC equals 100 - 2Q2 + 5Q3 ( one hundred minus two Q squared plus five Q cube)

C) More than one answer is correct

D) Marginal cost is equal to -4 + 15Q2 (negative 4 plus fifteen Q squared)

16) If TVC is equal to 100 - 2Q2 + 5Q3 ( one hundred minus two Q squared plus five Q cube) then MC = -4Q + 5Q2 (minus 4 Q plus 5 Q squared).

Select one:

True

False

17) A firm operates in the ________________but plans in the _____________.

A) long run, short run

B) short run, short run

C) short run, long run

D) long run, long run

18) A firm operates in the short run but plans in the long run.

Select one:

True

False

19) Given the Total Cost function TC = 1000 + 10Q - 0.9Q2 + 0.04Q3 ( one thousand minus zero point nine Q squared plus zero point zero four Q cube) then the rate of output that minimizes average variable cost is

A)21.5

B) 2.15

c) 11.25

D) 1.125

20) Given the total cost function TC = 1000 + 10Q - 0.9Q2 + 0.04Q3 ( one thousand plus ten Q - zero point nine Q squared plus zero point zero four Q cubed, the output rate that minimizes Average Variable Cost is 1.125

Select one:

True

False

* no explanation needed*