Given that TC=2000+100Q-10Q2+Q3 where Q is level of output and maximum level of MP is 15 units, answer the following question based on the given information. A. Determine the TFC ,TVC,AVC,AFC,AC and MC functions b. Calculate the level of output at which AVC and AC reaches its minimum c Draw the relationship between production and cost curve and What relationship do you observe between production and cost curves? Why is this so? G At 5 units AVC,APL is 10,what is the maximum APL?
Given that TC=2000+100Q-10Q2+Q3 where Q is level of output and maximum level of MP is 15 units, answer the following question based on the given information. A. Determine the TFC ,TVC,AVC,AFC,AC and MC functions b. Calculate the level of output at which AVC and AC reaches its minimum c Draw the relationship between production and cost curve and What relationship do you observe between production and cost curves? Why is this so? G At 5 units AVC,APL is 10,what is the maximum APL?
Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter7: Production And Cost In The Firm
Section: Chapter Questions
Problem 18PAE
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Given that TC=2000+100Q-10Q2+Q3 where Q is level of output and maximum level of MP is 15 units, answer the following question based on the given information.
A. Determine the TFC ,TVC,
b. Calculate the level of output at which AVC and AC reaches its minimum
c Draw the relationship between production and cost curve and What relationship do you observe between production and cost curves? Why is this so?
G At 5 units AVC,APL is 10,what is the maximum APL?
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