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Suppose a firm has a short-run total cost function of: TC 8q2 + 4q + 12 Then, the equation for the firm's fixed cost
Suppose a firm has a short-run total cost function of: TC 8q2 + 4q + 12 Then, the equation for the firm's fixed cost is and the equations for the firm's average variable cost is o o o o FC O; 8q2 + 4q 8q2 + 4q FC 12; AVC FC- 12; AVC=8q+4 FC = O; AVC = 8q + 4
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International Economics
Authors: Thomas A. Pugel
15th edition
73523178, 978-0077769529, 007776952X, 978-0073523170
