A firm's fixed costs are 180 and the variable costs are 3Q per unit. Based on this information, choose the correct statements (morethan one option might be correct).A None of the other options is right.BDMarginal Cost function follows the expression MC=3QTotal Cost function follows the expression TC=180+3Q²180Average cost function follows the expression AC= +6QMinimum Average Cost happens for Q=,1803(F) The approximate total cost of manufacturing the next unit after Q1 follows the expression 3Q1

Total cost is the total expenditure that the producer incurs on the production of the output. Now…

A firm's fixed costs are 180 and the variable costs are 3Q per unit. Based on this information, choose the correct statements (more than one option might be correct). (A) None of the other options is right. B Marginal Cost function follows the expression MC=3Q E Total Cost function follows the expression TC=180+3Q² 180 Average cost function follows the expression AC = Q Minimum Average Cost happens for Q= 180 3 +6 The approximate total cost of manufacturing the next unit after Q1 follows the expression 3Q1

A firm's fixed costs are 180 and the variable costs are 3Q per unit. Based on this information, choose the correct statements (more than one option might be correct). (A) None of the other options is right. B Marginal Cost function follows the expression MC=3Q E Total Cost function follows the expression TC=180+3Q² 180 Average cost function follows the expression AC = Q Minimum Average Cost happens for Q= 180 3 +6 The approximate total cost of manufacturing the next unit after Q1 follows the expression 3Q1

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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