Find out the firms average variable cost

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Reference no: EM13832463

The cost function of a firm is given by C= 1000 + 100Q + 100Q2 -Q3.

a. Find out the firm's total fixed cost

b. Find out the firm's total variable cost.

c. Find out the firm's short run marginal cost.

d. Find out the firms average variable cost.

e. Find out the firm's Average fixed cost.

f. Find out the output level at which average variable cost equals the short run marginal cost.

g. Find out the output level at which total variable cost equals marginal cost. (Hint: You do not need to calculate the exact number. Formulate the equation that you need to solve to arrive at that number.)

h. Draw all the cost curves you calculated in question (7a-7e) in a graph.

Reference no: EM13832463

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