Question: Problem 1. (10 points) A firm's average total cost function is ATC=10Q1+5Q a. What is the total fixed cost? (2 points) b. What is the

Problem 1. (10 points) A firm's average total cost function is

Problem 1. (10 points) A firm's average total cost function is ATC=10Q1+5Q a. What is the total fixed cost? (2 points) b. What is the total variable cost function? (2 points) c. What is the total cost function? (2 points) d. What is the average fixed cost function? (2 points) e. What is the marginal cost function? (2 points) Problem 1. (10 points) A firm's average total cost function is ATC=10Q1+5Q a. What is the total fixed cost? (2 points) b. What is the total variable cost function? (2 points) c. What is the total cost function? (2 points) d. What is the average fixed cost function? (2 points) e. What is the marginal cost function? (2 points)

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