Where Q = quantity, TC = total cost, TFC = total fixed cost, and TVC = total variable cost; average variable cost, or “AVC” is equal to: A) TFC/Q B) Q/TFC C) Q/TVC D) TVC/Q

Given Cost and Revenue functions C(q)=q3−10q2+52q+5000 and R(q)=−3q2+2400q​, what cost is incurred when marginal profit is​ $0?

Q(P) = 300/N – P, where N = number of firms TC(Q) = 50 + Q2, what are the firms fixed and variable costs?

Which of the following is correct?   a) Total Fixed Cost = Total Cost + Total Variable Cost b) Total Cost = Total Variable Cost + Marginal Cost c) Average Fixed Cost = Average Total Cost – Average Variable Cost d) Average Total Cost = Marginal Cost + Average Fixed Cost

For the cost and price functions below, find a) the number, q, of units that produces maximum profit; b) the price, p, per unit that produces maximum profit; and c) the maximum profit, P. C(q) = 70+ 14q; p = 70-2q a) The number, q, of units that produces maximum profit is q = b) The price, p, per unit that produces maximum profit is p = $ c) The maximum profit is P = $

Which of the following is always true?A) When marginal costs are less than average total costs, average total costs will be increasing.B) When average fixed costs are falling, marginal costs must be less than average fixed costs.C) When average fixed costs are rising, marginal costs must be greater than average total costs.D) When marginal costs are greater than average total costs, average total costs will be increasing.

The ratio of total cost to number of units produced defines: a. Incremental cost b. Average cost c. Marginal cost d. Opportunity cost.

The fixed cost per unit is equal to: Multiple choice question. average variable cost. average total cost. average fixed cost. marginal cost.

The long-run cost function for a firm in the personal computer business is: C(q) = 8q² + 7200, for q> 0. What is the average cost function AC (g)? AC (q) = 16q AC (q) = 8q+ 7200 9 AC (q) = 16q+ AC (g) 16q+7200 AC(q) = 8q+7200 = 7200 9 The long-run cost function for a firm in the personal computer business is: C(q) = 8q² + 7200. for q> 0. What is the marginal cost function MC (q)? MC(q) = 8q+7200 MC(q) = 8q MC (g) MC (q) = 16q MC (q) = 16q+ 16q+72000 7200 The long-run cost function for a firm in the personal computer business is: C(q) = 8q²+7200, for q> 0. At what level of output does average cost equal marginal cost? The level of output at which average cost and marginal cost are equal is type your answer... -01

Marginal cost is defined as the change in total cost when: a) Total fixed cost increases b) Total variable cost decreases c) One more unit of output is produced d) Average cost decreases