I need help with this homework, please help me. I have this short-run total cost
ID: 1096400 • Letter: I
Question
I need help with this homework, please help me.
I have this short-run total cost function TC(x) = 25x + 100, and x is the quantity produced.
a) Find the Fixed Cost of production: FC=
b) Find Variable Cost production: VC(x)=
c) Find the equation for Average Fixed Cost: AFC(x)=
d) Find the equation for Average Variable Cost: AVC(x)=
e) Show the equation for Average Cost: AC(x)=
f) Show the equation for Average Cost of producing x=10 units of output: AC(10)=
g) Find the Marginal Cost of production: MC(x)=
Explanation / Answer
I have this short-run total cost function TC(x) = 25x + 100, and x is the quantity produced.
a) Find the Fixed Cost of production: FC= 100
b) Find Variable Cost production: VC(x)= 25X
c) Find the equation for Average Fixed Cost: AFC(x)=100/X
d) Find the equation for Average Variable Cost: AVC(x)=25
e) Show the equation for Average Cost: AC(x)=(25X+100)/X
f) Show the equation for Average Cost of producing x=10 units of output: AC(10)=(25*10+100)/10=350/10=35
g) Find the Marginal Cost of production: MC(x)=dTC(x)/dx=25