C(Q) = 80+ 20Q+25Q² +5Q³. Based on this information, determine the following: a. The fixed cost of producing 10 units of output. 80 b. The variable cost of producing 10 units of output. c. The total cost of producing 10 units of output. d. The average fixed cost of producing 10 units of output. e. The average variable cost of producing 10 units of output. f. The average total cost of producing 10 units of output. $ g. The marginal cost when Q = 10.

C(Q) = 80+ 20Q+25Q² +5Q³. Based on this information, determine the following: a. The fixed cost of producing 10 units of output. 80 b. The variable cost of producing 10 units of output. c. The total cost of producing 10 units of output. d. The average fixed cost of producing 10 units of output. e. The average variable cost of producing 10 units of output. f. The average total cost of producing 10 units of output. $ g. The marginal cost when Q = 10.

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter7: Economies Of Scale And Scope

Section: Chapter Questions

Problem 3MC

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C(Q) = 80+
Based on this information, determine the following:
a. The fixed cost of producing 10 units of output.
$ 80
b. The variable cost of producing 10 units of output.
$
c. The total cost of producing 10 units of output.
$
20Q+25Q²+5Q³.
d. The average fixed cost of producing 10 units of output.
$
8
e. The average variable cost of producing 10 units of output.
$
f. The average total cost of producing 10 units of output.
$
g. The marginal cost when Q = 10.
$1

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Step 2: Fixed cost for producing 10 units

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Step 3: Variable cost of producing 10 units of output

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Step 4: Total cost of producing 10 units of output

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Step 5: AVerage fixed cost of producing 10 units of output

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Step 6: Average variable cost of producing 10 units of output

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Step 7: AVerage cost of producing 10 units of output

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Step 8: Marginal cost when Q= 10 units

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