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I couldn't do the last question, I would appreciate if someone can help me with it. Suppose a firm's cost function is C(q)=2q2+19 Find variable
I couldn't do the last question, I would appreciate if someone can help me with it.
Suppose a firm's cost function is C(q)=2q2+19 Find variable cost (VC), fixed cost (FC), average cost (AC), average variable cost (AVC), and average fixed cost (AFC). (Hint. Marginal cost is given by MC=4q.) Variable cost is A. VC=2q. B. VC=2q2. C. VC=2. D. VC=4q2. E. VC=19. Fixed cost is A. FC=4. B. FC=2. C. FC=19q. D. FC=19. E. FC=2q2. Average cost is 1. AC=4q. AC=2q+q19. AC=q19. D. AC=2q. E. AC=q4. Average variable cost is A. AVC=q19. B. AVC=4q. C. AVC=4. D. AVC=2q. E. AVC=q4. Average fixed cost is A. AFC=19. B. AFC=q2. C. AFC=2q. D. AFC=q19. E. AFC=q4. Show the marginal cost curve and the average variable cost curve on a graph. 1.) Using the line drawing tool, draw the marginal cost curve. Label this curve 'MC'. 2.) Using the line drawing tool, draw the average variable cost curve. Label this curve 'AVC'. Carefully follow the instructions above, and only draw the required objects. Find the output that minimizes average cost. Average cost is minimized at output of units. (Enter your response rounded to two decimal places.) At what range of prices will the firm produce a positive output? The firm will produce positive output at prices above I . (Enter your response rounded to two decimal places.) At what range of prices will the firm earn a negative profit? The firm will earn negative profit for any price below $ (Enter your response rounded to two decimal places.) Suppose a firm's cost function is C(q)=2q2+19 Find variable cost (VC), fixed cost (FC), average cost (AC), average variable cost (AVC), and average fixed cost (AFC). (Hint. Marginal cost is given by MC=4q.) Variable cost is A. VC=2q. B. VC=2q2. C. VC=2. D. VC=4q2. E. VC=19. Fixed cost is A. FC=4. B. FC=2. C. FC=19q. D. FC=19. E. FC=2q2. Average cost is 1. AC=4q. AC=2q+q19. AC=q19. D. AC=2q. E. AC=q4. Average variable cost is A. AVC=q19. B. AVC=4q. C. AVC=4. D. AVC=2q. E. AVC=q4. Average fixed cost is A. AFC=19. B. AFC=q2. C. AFC=2q. D. AFC=q19. E. AFC=q4. Show the marginal cost curve and the average variable cost curve on a graph. 1.) Using the line drawing tool, draw the marginal cost curve. Label this curve 'MC'. 2.) Using the line drawing tool, draw the average variable cost curve. Label this curve 'AVC'. Carefully follow the instructions above, and only draw the required objects. Find the output that minimizes average cost. Average cost is minimized at output of units. (Enter your response rounded to two decimal places.) At what range of prices will the firm produce a positive output? The firm will produce positive output at prices above I . (Enter your response rounded to two decimal places.) At what range of prices will the firm earn a negative profit? The firm will earn negative profit for any price below $ (Enter your response rounded to two decimal places.)Step by Step Solution
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