1. Given TC = 100 +60Q-12Q2+Q3 find
2. The equations of the TVC, AFC and MC functions
3. The level of output at which AVC and MC are minimum
4. Find the AVC and MC for the level of output at which the AVC curve is minimum
5. Identify the type of costs on each case
6. payment for the office stationary
7. interest cost of owner's capital
8. machinery bought for 2million Frs in 2006 while its current market price is 15Million frs
9. the salary of administrative personnel
10. Examine the factors which explain why the average cost of producing a commodity declines with an expansion in the scale of production
11. Visit any five small businesses within your community and examine the following

• The different type of cost incurred for each business
• The start-up cost for each business
• Fixed and variable cost for each business
• Implicit and explicit cost for each business
• What are their differences and similarities in their cost structure