1. Marginal cost is given by MC = 25 + 30Q -9Q2. Fixed cost is 55. Find the (a) total cost,(b) average cost and (c) variable cost functions.

The firms, and businesses are the entities who are involved in the production process. The firms…

Answered: 1. Marginal cost is given by MC = 25 +…

1. Marginal cost is given by MC = 25 + 30Q – 9Q². Fixed cost is 55. Find the (a) total cost, (b) average cost and (c) variable cost functions.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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1. Marginal cost is given by MC = 25 + 30Q -9Q2. Fixed cost is 55. Find the (a) total cost,
(b) average cost and (c) variable cost functions.

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