View the step-by-step solution to:

Question 21 Suppose that a firm's cost equation is TC(Q) = 100 + 2Q + 3Q2. The total variable cost of producing 2 units of output is:

Question 21

Suppose that a firm’s cost equation is TC(Q) = 100 + 2Q + 3Q2. The total variable cost of producing 2 units of output is:
a. 24.
b. 16.
c. 12.
d. 8.
e. None of the above.



Question 22

Suppose that a firm’s cost equation is TC(Q) = 100 + 2Q + 3Q2. The total fixed cost of producing 2 units of output is:
a. 116.
b. 100.
c. 16.
d. 8.
e. None of the above.


Question 23

Suppose that a firm’s cost equation is TC(Q) = 100 + 2Q + 3Q2. The marginal cost of producing 2 units of output is:
a. 24.
b. 14.
c. 12.
d. 8.
e. None of the above.

Sign up to view the entire interaction

Top Answer

Dear Student Please find... View the full answer

Economics-8272231.doc

Question 21
Suppose that a firm’s cost equation is TC(Q) = 100 + 2Q + 3Q2. The total variable cost of producing 2
units of output is:
a. 24.
b. 16.
c. 12.
d. 8.
e. None of the above.
= 2*2 +3*2*2...

Sign up to view the full answer

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

-

Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question
Ask a homework question - tutors are online