Question: A firms short-run cost function is C(q) = 200q - 6q2 + 0.3q3 + 400. Determine the fixed cost, F; the variable cost function, AVC;

A firm’s short-run cost function is C(q) =

200q - 6q2 + 0.3q3 + 400. Determine the fixed cost, F; the variable cost function, AVC; the average cost, AC; the marginal cost, MC; and the average fixed-cost, AFC. (Hint: See Solved Problem 7.2.) M

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