Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If the short-run total cost function for a firm is TC = 3,000+100Q , calculate the average total cost ( ATC ) when the output

If the short-run total cost function for a firm is

TC = 3,000+100Q,

calculate

  1. the average total cost (ATC) when the output Q=10,
  2. the marginal cost (MC) for the 10thunit of output, and
  3. the fixed cost in the short run.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Economics

Authors: Paul Keat, Philip K Young, Steve Erfle

7th edition

0133020266, 978-0133020267

More Books

Students also viewed these Economics questions

Question

How easy the information is to remember

Answered: 1 week ago

Question

The personal characteristics of the sender

Answered: 1 week ago

Question

The quality of the argumentation

Answered: 1 week ago