c) The marginal cost of two firms are given by the following C'(Q) = 40 +20Q -5Q²TC =200 when Q = 01)2)TC= 600 when Q=0C'(Q) = 80e0.1Q(i)(ii)(iii)Find rhe total cost function C(Q) for each firmFind the average cost function for each firmWhat is the fixed cost for each firm

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Answered: C'(Q) = 40 +20Q -5Q² TC =200 when Q = 0…

Business

Economics

C'(Q) = 40 +20Q -5Q² TC =200 when Q = 0 1) 2) TC= 600 when Q=0 C'(Q) = 80e0.1Q

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter7: Proudction Costs

Section: Chapter Questions

Problem 9SQP

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Question

c) The marginal cost of two firms are given by the following

C'(Q) = 40 +20Q -5Q²
TC =200 when Q = 0
1)
2)
TC= 600 when Q=0
C'(Q) = 80e0.1Q
(i)
(ii)
(iii)
Find rhe total cost function C(Q) for each firm
Find the average cost function for each firm
What is the fixed cost for each firm

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