Question: TC = 10 + 5Q + Q2 Q = 15 - PWhere TC is total cost, Q is the total product and P is price.
TC = 10 + 5Q + Q2
Q = 15 - PWhere TC is total cost, Q is the total product and P is price. What is the average fixed cost (AFC), given the profit maximising quantity?
a.
$4
b.
None of these are correct
c.
$6
d.
$2
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
