(Answered) A firm has a total cost functiont c 10 10q

Management Studies

A firm has a total cost function:T C = 10 + 10Q - 4Q2 + Q3, (6)where Q is the number of units of output produced.

(a) Find the total variable cost T V C and total fixed cost T F C

(b) Derive the average variable cost AV C

(d) What is the output level where average variable cost is minimum?

(e) What is the output level where average variable cost equals marginal cost?

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