Use the function below (whose parameters qualify it as a STC function) to answer the questions. See the text p. 244 for a representative figure. STC = 4850 + 40Q-1.5Q² + .04Q³ a. Total fixed cost is $4,850; Represented by the constant number in the above function. b. Obtain the AFC function from (a) and write it here AFC = FC / Q or AFC = 4,850 / Q c. Obtain the AVC function contained in the STC function and write the AVC function here AVC = 40-1.50 +.04Q² AVC = AVC = Q AVC = 40 - 1.5Q +.04Q² d. Write here the MC function MC = 0-1.5 +.08Q dSTC MC mano dSTC TVC Q (40Q-1.5Q² + .04Q³) (40) = 0 waq dSTC (1.5Q) = 1.5(1)Q¹-¹ = 1.5 mano dsTC ano (.04Q²) = .04(2)Q²-1 = = .08Q

Use the function below (whose parameters qualify it as a STC function) to answer the questions. See the text p. 244 for a representative figure. STC = 4850 + 40Q-1.5Q² + .04Q³ a. Total fixed cost is $4,850; Represented by the constant number in the above function. b. Obtain the AFC function from (a) and write it here AFC = FC / Q or AFC = 4,850 / Q c. Obtain the AVC function contained in the STC function and write the AVC function here AVC = 40-1.50 +.04Q² AVC = AVC = Q AVC = 40 - 1.5Q +.04Q² d. Write here the MC function MC = 0-1.5 +.08Q dSTC MC mano dSTC TVC Q (40Q-1.5Q² + .04Q³) (40) = 0 waq dSTC (1.5Q) = 1.5(1)Q¹-¹ = 1.5 mano dsTC ano (.04Q²) = .04(2)Q²-1 = = .08Q

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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