or each of the following cost-output relationships, describe the shape (U-shape, decreasing, increasing, constant) of the average total cost and marginal cost functions (C = total cost, Q = output): (a) C= 42,500,000 + 2550Q (b) C= 8.48 + 0.65Q + .00220Q²

or each of the following cost-output relationships, describe the shape (U-shape, decreasing, increasing, constant) of the average total cost and marginal cost functions (C = total cost, Q = output): (a) C= 42,500,000 + 2550Q (b) C= 8.48 + 0.65Q + .00220Q²

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter7: Proudction Costs

Section: Chapter Questions

Problem 17SQ

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Question

For each of the following cost-output relationships, describe the shape (U-shape, decreasing, increasing,
constant) of the average total cost and marginal cost functions (C = total cost, Q = output):
%3D
(a)
C = 42,500,000 + 2550Q
(b) C= 8.48 + 0.65Q + .00220Q2

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