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Suppose you are given the following total cost function:

TC = 2000 + 15Q - 6Q2 + Q3 , where Q = units of output:

Using this function,

How much is TFC at an output of 2000 units? At 5000 units?

How much is AFC at an output of 2000 units? At 5000 units?

How much is AVC at an output of 20 units?

How much is MC at an output of 20 units?

How much is ATC at an output of 20 units?

At approximately what output rate is the point of diminishing marginal returns to variable input encountered?

At approximately what output rate does diminishing average returns begin?

At approximately what rate of output does stage II begin?

Macroeconomics, Economics

  • Category:- Macroeconomics
  • Reference No.:- M92044384
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