Fixed cost of production and average cost of production

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Suppose you are the owner of a pizza restaurant operating in a competitive market. Your cost of production is given by TC (Q)= 500+9Q-7/2Q^2+1/3Q^3, where q is the number of pizzas and TC is the total cost.

What is the variable cost of production, fixed cost of production, average cost of production, and marginal cost of production?

Reference no: EM131083571

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