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
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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