QUESTION 4   A manufacturing company has the following total cost function   C(Q) = 100 + 10Q + Q2   Please answer the following questions noting that costs are measured in thousands of dollars and output Is measured in thousands of units (i.e. 1 unit of output when substituted will be represented as 1,000 Units of output and $1 when calculated represents = $1,000).   a.      What is the average fixed cost of producing 2 units of output?   b.      What is the average variable cost of producing 2 units of output     c.      What is the marginal cost of producing 2 units of output   d.      What is the average total cost of producing 2 units of output     e.      Describe the relationship observed among the costs calculated in parts (a),(b) and (c). Does the Relationship usually exist among these three types of average costs, please comment on what is Usually observed?

QUESTION 4   A manufacturing company has the following total cost function   C(Q) = 100 + 10Q + Q2   Please answer the following questions noting that costs are measured in thousands of dollars and output Is measured in thousands of units (i.e. 1 unit of output when substituted will be represented as 1,000 Units of output and $1 when calculated represents = $1,000).   a.      What is the average fixed cost of producing 2 units of output?   b.      What is the average variable cost of producing 2 units of output     c.      What is the marginal cost of producing 2 units of output   d.      What is the average total cost of producing 2 units of output     e.      Describe the relationship observed among the costs calculated in parts (a),(b) and (c). Does the Relationship usually exist among these three types of average costs, please comment on what is Usually observed?