In-class cost function exercise

In-class cost function exercise - In-class cost function...

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Unformatted text preview: In-class cost function exercise Chap. 5, problem #4 You estimate your demand function to be: C(Q) = 50 + 25Q + 30Q2 + 5Q3 Based on this information, determine: 1) The fixed cost of producing 10 units of output 2) The variable cost of producing 10 units of output 3) The total cost of producing 10 units of output 4) The average fixed cost of producing 10 units of output 5) The average variable cost of producing 10 units of output 6) The average total cost of producing 10 units of output 7) The marginal cost when Q=10 a. (Hint: do this both as the derivative and as C(10) – C(9)) //home/vdimitrov/17696/859837bc8a48655c86a62e307325b2596b88f0a0.doc 1 ...
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This note was uploaded on 12/03/2011 for the course MANEC 387 taught by Professor Crawford,l during the Fall '08 term at BYU.

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