Answer to Question #321039 in Microeconomics for ghj

Question #321039

For the following cost function TC = a + bQ – cQ2 + dQ3, determine the equations for TFC, TVC, AFC, AVC, AC, MC. (a,b,c,d> 0)

Expert's answer

"AC=\\frac{TC}Q=\\frac aQ+b-cQ+dQ^2,"

"MC=TC'=b-2cQ+3dQ^2."

Learn more about our help with Assignments: Microeconomics

Comments

No comments. Be the first!

Leave a comment

Related Questions

1. Paul’s lawn- mowing service is a profit maximizing, competitive firm. Paul mows lawns for $27 eac
2. All Inferior goods are Giffen goods.
3. Show how the migration of workers from country A to country B will affect the labour supply, labour
4. What is production possibility frontier ? Explain through diagram.
5. Given that utility function=10x1^0.6,x2^0.4, where U=f(x1,x2) given Px1=10 ,px2=20, and Px3=1000 are
6. Discuss 2 determinants each of the price elasticity of demand and the price elasticity of supply.
7. If government imposes a maximum price of 48, calculate the resulting shortage and discuss on its eff