Question: If Fixed Cost = 500, Variable Cost = 70Q - 5Q 2 + 0.12Q 3 , find (a) TC for Q units of output. (b)

If Fixed Cost = 500, Variable Cost = 70Q - 5Q2+ 0.12Q3, find

(a) TC for Q units of output.

(b) ATC for Q units of output.

(c) AFC for Q units of output.

(d) AVC for Q units of output.

(e) MC for Q units of output.(You need to apply the rule of derivative).

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