Question: Cost function for a hypothetical firm is TC ($) = 100 + 4Q + 0.2Q2 Please calculate the following cost items for producing 10 units

Cost function for a hypothetical firm is TC ($) = 100 + 4Q + 0.2Q2

Please calculate the following cost items for producing 10 units of product:

1) Fixed Costs

2) Variable Costs

3) Total Costs

4) Average Total Cost

5) Marginal Cost (assuming that the firm is already producing 10 units, what is cost of producing one more unit)

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