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An economist estimated that the cost function of a single-product firm is: C(Q) = 110 + 20Q + 30Q2 + 10Q3. Based on this information, determine the following:
a. The fixed cost of producing 10 units of output. $ 110
b. The variable cost of producing 10 units of output. $ 13200
c. The total cost of producing 10 units of output. $ 13310
d. The average fixed cost of producing 10 units of output. $ 11
e. The average variable cost of producing 10 units of output. $ 1320
f. The average total cost of producing 10 units of output. $ 1330
g. The marginal cost when Q = 10. $ 3620
Seller surplus is _________.
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