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[Solved]: Suppose a firm's total cost curve is TC=100-2
Home / Expert Answers / Economics / suppose-a-firm-39-s-total-cost-curve-is-tc-100-2q-q-3-where-tc-is-the-total-cost-and-q-is-the-unit-o-pa707

(Solved): Suppose a firm's total cost curve is TC=100-2Q+Q^(3) Where TC is the total cost and Q is the unit o ...


Suppose a firm's total cost curve is

TC=100-2Q+Q^(3)

Where TC is the total cost and

Q

is the unit of output (20 points) a) Find the Marginal Cost (4 points) b) Find the Fixed Cost and Variable Cost (4 points) c) Find the Average Total Cost. Find the Average Variable Cost (3 points) d) Find the output level that minimizes average total cost? (3 points) e) Find the output level that minimizes average variable cost? (3 points) f) Graph Marginal cost, Average Total Cost and Average Variable Cost. Describe what would it happen if the price were

p=16

? ( 3 points) (please explain e & f)



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