Answer to Question #317274 in Economics for Anna

Question #317274

The marginal cost function of a firm is 2 + 3e^x Find the

total and average cost functions if the fixed cost is Rs. 500.

Expert's answer

Total cost is TC=FC+MC×Q=500+(2+3e^x)×Q;

Average cost is AC=TC/Q=500/Q+2+3e^x

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