What is the average and marginal cost of gumball production

Reference no: EM13203823

Suppose that the Acme Gumball Company has a fixed proportions production function that requires it to use two gumball presses and one worker to produce 1000 gumballs per hour.
The cost function is TC = q(2v+w), where q is the output of gumballs per hour, measured in thousands of gumballs.
What is the average and marginal cost of gumball production (again, measure output in thousands of gumballs)?

Reference no: EM13203823

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