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Average fixed cost of producing 4 units of output

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The cost function for KLM Company is given by C(Q) = 100 + 10Q + Q2, where costs are measured in thousands of dollars, and output is measured in thousands of hours rented.

a. What is the average fixed cost of producing 4 units of output?

b. What is the average variable cost of producing 4 units of output?

c. What is the average total cost of producing 4 units of output?

d. What is the marginal cost of producing 4 units of output?

e. What is the relationship between the answers to a, b, and c above?

Reference no: EM132498172

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