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What is the firm marginal cost function

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Reference no: EM133126219

For the next three questions, assume a firm has the total cost function

c(q) = 12 + 10q - 2q2 + q3/3.

1. What is the firm's average variable cost function?

a. 12/q + 10 - 2q + q2/3

b. 10q - 2q2 + q3/3

c. 10 - 2q + q2/3

d. 10 - 4q + q2

2. What is the firm's marginal cost function?

a.10q - 2q2 + q3/3

b.10 - 4q + q2

c.10 - 2q + q2/3

d.12/q + 10 - 2q + q2/3

3. If the price of the firm's product is 6, what quantity should the firm produce?

a.0

b.1

c.2

d.3

e.4

f.5

g.6

h.7

i.8

j.9

k. 10

Reference no: EM133126219

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