Question: A firm's short-run cost function is C(q) = 200q - 3q2 +0.4q + 500. Determine fixed cost, F; average variable cost, AVC; average cost, AC;


A firm's short-run cost function is C(q) = 200q - 3q2 +0.4q + 500. Determine fixed cost, F; average variable cost, AVC; average cost, AC; marginal cost, MC; and average fixed-cost, AFC. The fixed cost function (F) is F = The average variable cost function (AVC) is AVC = .(Properly format your expression using the tools in the palette. Hover over tools to see keyboard shortcuts. E.g., a superscript can be created with the ^ character.) The average cost function (AC) is AC = . (Properly format your expression using the tools in the palette.) The marginal cost function (MC) is MC =. (Properly format your expression using the tools in the palette.) The average fixed cost function (AFC) is AFC = . (Properly format your expression using the tools in the palette.)
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