Cnsider the following equationsfunctionstc 20 4qtc 20 , Ask an Expert

Economics

Consider the following equations/functions:

TC = 20 + 4Q

TC = 20 + 2Q + 0.5Q2

TC = 20 + 4Q - 0.1Q2

Calculate the following for all three cost equations/functions:

Total cost

Total fixed cost

Total variable cost

Average total cost

Average fixed cost

Average variable cost

Marginal cost

Plot these curves on graphs.

Compare the shapes of these curves and discuss their characteristics. (Particularly interesting is the marginal cost function, which is also often found in engineering cost studies.)

Show all of your work (how you arrived at the answers).

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M91996374

Have any Question?Write your Review or question?

Related Questions in Business Economics

Under what circumstances would lras and sras have the same

Under what circumstances would LRAS and SRAS have the same slope?

With most of the worlds nations either having moved to

With most of the world's nations either having moved to market economies, does the nationalization of foreign industries and property have its place?

Looking for some guidance on estimating supply and demand

Looking for some guidance on estimating supply and demand curves. An sample practice problem lists: (demand and supply are in millions) Q(demand)=10-4P Q(supply)=-2+8P How do we plot something like this on a graph to fin ...

Consider the market for pizza in middleton ontario whose

Consider the market for pizza in Middleton, Ontario, whose demand and supply schedules are given in the table below. Price of Pizza ($) Quantity Demanded Quantity Supplied 10 0 6 9 1 5 8 2 4 7 3 3 6 4 2 5 5 1 4 6 0 3 7 0 ...

1 dominos pizza is willing is willing to pay kes 250 in

1. Domino's pizza is willing is willing to pay Kes 250 in airtime to each person interviewed about his or likes and dislikes of types of pizza crust. Of the people interviewed, 220 liked a thin crust, 270 like a thick cr ...

Suppose demand and supply are given byqdxnbsp 14 - 05

Suppose demand and supply are given by: Q d x = 14 - 0.5 P x and Q s x = .25 P x - 1 a) Determine the equilibrium price and quantitiy. b) Suppose a $12 excise tax is imposed on the good. Determine the new equilibrium ...

Pure gasoline has an energy density of 115600 btu per

Pure gasoline has an energy density of 115,600 BTU per gallon, while ethanol has an energy density of 75,670 BTU per gallon. Gasoline cost $3.70 per gallon. What would the price of E85 (85% ethanol, 15% gasoline) have to ...

Why does the marginal cost curve always intersects the

Why does the marginal cost curve always intersects the average total cost curve and AVC?

If material hardness is normally distributed with a mean of

If material hardness is normally distributed with a mean of 42 and a standard deviation of 1. Specification limits for hardness are from 35 to 45. When the fraction defective is 0.0017 what is the corresponding PPM?

When we look at the ease to enter the different market

When we look at the ease to enter the different market structure, there is no doubt that 'monopoly' is the hardest. Why? -- There is only ONE firm that has established 'economies of scale' with the production of their go ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Economics Expert