Question: A firm's short - run cost function is C ( q ) = 2 2 0 q - 6 q 2 + 0 . 6
A firm's shortrun cost function is
Determine fixed cost, ; average variable cost, AVC; average cost, AC; marginal cost, MC; and average fixedcost AFC.
The fixed cost function is
The average variable cost function AVC is
AVCPropenty format your expression using the tools in the palette. Hover over tools to see keyboard shortcuts. Eg a superscript can be created with the character.
The average cost function is
Properly format your expression using the tools in the palette.
The marginal cost function MC is
Property format your expression using the tools in the palette.
The average fixed cost function AFC is
AFCProperly format your expression using the tools in the palette.
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
