For one period, a firm has fixed cost equal to $8,000 and a marginal cost of $7 per unit of output (q). What is their cost function for one period? A) C = 8000 + 7g B) C = 8000 + %3D C) C = (8000 + q) 7 D) C = 8000 + 7q? O A O B Question 5 Use the following cost function for a firm in a perfectly competitive industry for this question C = 125 + 3q3 -36q2 + 40q At what level of q does AVC reach a minimum? 10 D.
For one period, a firm has fixed cost equal to $8,000 and a marginal cost of $7 per unit of output (q). What is their cost function for one period? A) C = 8000 + 7g B) C = 8000 + %3D C) C = (8000 + q) 7 D) C = 8000 + 7q? O A O B Question 5 Use the following cost function for a firm in a perfectly competitive industry for this question C = 125 + 3q3 -36q2 + 40q At what level of q does AVC reach a minimum? 10 D.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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4
![For one period, a firm has fixed cost equal to $8,000 and a marginal cost of
$7 per unit of output (g). What is their cost function for one period?
A) C = 8000 + 7g
B) C = 8000 +
C) C = (8000 + q) 7
D) C = 8000 + 7g?
O A
OD
OB
Question 5
Use the following cost function for a firm in a perfectly competitive industry
for this question
C = 125 + 3q3 - 36q? + 40q
At what level of q does AVC reach a minimum?
O 10
O 4
0 6
O 2
O 3](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F29702385-953d-4f81-a91e-17e99ae97064%2F34a74d53-36c5-48c3-a9a5-d485dea3249b%2F7m6stxr_processed.jpeg&w=3840&q=75)
Transcribed Image Text:For one period, a firm has fixed cost equal to $8,000 and a marginal cost of
$7 per unit of output (g). What is their cost function for one period?
A) C = 8000 + 7g
B) C = 8000 +
C) C = (8000 + q) 7
D) C = 8000 + 7g?
O A
OD
OB
Question 5
Use the following cost function for a firm in a perfectly competitive industry
for this question
C = 125 + 3q3 - 36q? + 40q
At what level of q does AVC reach a minimum?
O 10
O 4
0 6
O 2
O 3
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