Explore BrainMass

Explore BrainMass

    Economics: Cost Analysis

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    1.
    An economist estimated that he cost function of single-prodcut firm is
    C(Q) = 100 + 20Q + 15Q2 + 10Q3
    Based on this information, determine:

    a. The fixed cost of producing 10 units of output
    b. The variable cost of producing 10 units of output
    c. The total cost of producing 10 units of output
    d. The average fixed cost of producing 10 units of output
    e. The average variable cost of producing 10 units of output
    f. The average total cost of producing 10 units of output
    g. The marginal cost when Q = 10

    2.

    A firm's fixed costs for producing 0 units of output and its average total cost of producing different output levels are summarized in the tale below.

    Complete the table to find the fixed cost, variable cost, total cost, average fixed cost, average variable cost, and marginal cost at all levels of output.

    Q FC VC TC AFC AVC ATC MC
    0 $15,000 -----
    100 $300
    200 200
    300 175
    400 225
    500 325
    600 400

    PLEASE SEE ATTACHED

    © BrainMass Inc. brainmass.com June 2, 2020, 11:31 pm ad1c9bdddf
    https://brainmass.com/economics/managerial-economics/economics-cost-analysis-584929

    Attachments

    Solution Summary

    The problem set deals with questions under economics: Cost estimation. Attached as Word.

    $2.19

    ADVERTISEMENT