An average variable cost function is estimated as AVC = 96-2Q + 0.05Q2. Which of the following cost functions is associated with this estimate? a. MC = -2Q + 0.1Q2 b. TVC = 96Q- 2Q2 + 0.1Q3 c. TVC = 96Q - 4Q2 +0.15Q3 d. MC = 96 - 4Q+0.15Q2
An average variable cost function is estimated as AVC = 96-2Q + 0.05Q2. Which of the following cost functions is associated with this estimate? a. MC = -2Q + 0.1Q2 b. TVC = 96Q- 2Q2 + 0.1Q3 c. TVC = 96Q - 4Q2 +0.15Q3 d. MC = 96 - 4Q+0.15Q2
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![An average variable cost function is estimated as
AVC = 96-2Q + 0.05Q2. Which of the following
cost functions is associated with this estimate?
a. MC = -2Q + 0.1Q2
b. TVC = 96Q-2Q2 + 0.1Q3
c. TVC = 96Q - 4Q2 +0.15Q3
d. MC 96-4Q+0.15Q2
=](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3f51b5af-d948-4744-9bce-17904dbe7bac%2F399d681b-75aa-479a-a529-2a0a8679d665%2F4ufcdwc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:An average variable cost function is estimated as
AVC = 96-2Q + 0.05Q2. Which of the following
cost functions is associated with this estimate?
a. MC = -2Q + 0.1Q2
b. TVC = 96Q-2Q2 + 0.1Q3
c. TVC = 96Q - 4Q2 +0.15Q3
d. MC 96-4Q+0.15Q2
=
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