Question: For each of the total cost functions, write the expressions for the total fixed cost, average variable cost, and marginal cost (if not given), and
For each of the total cost functions, write the expressions for the total fixed cost, average variable cost, and marginal cost (if not given), and draw the average total cost and marginal cost curves.
a) TC(Q) = 10Q
b) TC(Q) = 160 + 10Q
c) TC(Q) = 10Q2, where MC(Q) = 20Q
d) TC(Q) = 10√Q, where MC(Q) = 5/√Q
e) TC(Q) = 160 + 10Q2, where MC(Q) = 20Q
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a TFC 0 AVC 10 MC 10 MC AC 10 b TFC 160 ... View full answer
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