Question
If the unknown function of the short-term costs by using the average variable cost (AVC) is shown with the AVC function = 81.93 - 0,35Q
If the unknown function of the short-term costs by using the average variable cost (AVC) is shown with the AVC function = 81.93 - 0,35Q + 0,24Q2 where AVC is the average variable cost ($ / unit) and Q is the number of units production, while unknown Total Fixed Costs (TFC) is approximately $ 30 million.
a. Determine the total cost equation (TC) and the short-term marginal cost (SMC).
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Ethical Obligations And Decision Making
Authors: Steven Mintz
1st Edition
0078025281, 9780078025280
