Question
Given the following cubic cost function: TC(Q)=0.1Q^3-2Q^2+50Q+100, where VC=0.1Q^3-2Q^2+50Q, where MC=0.3Q^2-4Q+50, where ATC=0.1Q^2-2Q50+ 100 , Q where AVC= 0.1Q^3-2Q^2+50Q Q =0.1Q^2-2Q+50 Pair the cubic cost
Given the following cubic cost function: TC(Q)=0.1Q^3-2Q^2+50Q+100,
where VC=0.1Q^3-2Q^2+50Q,
where MC=0.3Q^2-4Q+50,
where ATC=0.1Q^2-2Q50+ 100,
Q
where AVC= 0.1Q^3-2Q^2+50Q
Q
=0.1Q^2-2Q+50
Pair the cubic cost function above with a linear demand function of your own and show the results using a real-world example. Identify a constraint in your example.
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Economics Today The Macro View
Authors: Roger LeRoy Miller
18th Edition
0133884872, 978-0133884876
