Consider a firm with the total cost function given byTC(Q) = 2Q² + 100. Choose all the correct statements.Select one or more:а.The marginal cost of this firm is MC(Q) = 4Q.b. The marginal cost of this firm is MC(Q) = 2Q.O c.The fixed cost of this firm is FC(Q) = 100.d. The average cost of this firm is AC(Q) = 2Q.

Formula:- Marginal Utility=dTCdQAverage Utility=TCQwhere;TC= Total UtilityQ= Quantity

Answered: Consider a firm with the total cost…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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