Assume that the operation has the cost function CIa) = 200 - 30 - 80 40 and the marginal cost function MC (Q) = 3- 160 - 12Q Determine the following: Average fixed cost to product 6 units of output. Average variable cost to produce 6 untis of output. Marginal cost to produce 6 units of outout Average total cost to produce 6 units of output

Assume that the operation has the cost function CIa) = 200 - 30 - 80 40 and the marginal cost function MC (Q) = 3- 160 - 12Q Determine the following: Average fixed cost to product 6 units of output. Average variable cost to produce 6 untis of output. Marginal cost to produce 6 units of outout Average total cost to produce 6 units of output

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Assume that the operation has the cost function CIC) = 200 - 30 - 80- 40 and the marginal cost function MC (C) = 3- 160 - 120 Determine the following: Average fixed cost to product 6 units of output. Average variable cost to produce 6 untis of output. Marginal cost to produce 6 units of outout Average total cost to produce 6 units of output
Question 22
Find average fixed cost if TFC is 250 and Output is 15 units
None
A company can produce 25 items for a total cost of $ 2250 with a fixed cost of $ 1000 and a selling price of $ 75. Find the cost, revenue, and profit function. Find the break even point. Sketch on the same graph the revenue and cost function and clearly label where the break even point is. When does the company have profit? Explain.