C'(Q) = 40 +20Q -5Q² TC =200 when Q = 0 1) 2) TC= 600 when Q=0 C'(Q) = 80e0.1Q

Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter7: Economies Of Scale And Scope
Section: Chapter Questions
Problem 11MC
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c) The marginal cost of two firms are given by the following 

C'(Q) = 40 +20Q -5Q²
TC =200 when Q = 0
1)
2)
TC= 600 when Q=0
C'(Q) = 80e0.1Q
(i)
(ii)
(iii)
Find rhe total cost function C(Q) for each firm
Find the average cost function for each firm
What is the fixed cost for each firm
Transcribed Image Text:C'(Q) = 40 +20Q -5Q² TC =200 when Q = 0 1) 2) TC= 600 when Q=0 C'(Q) = 80e0.1Q (i) (ii) (iii) Find rhe total cost function C(Q) for each firm Find the average cost function for each firm What is the fixed cost for each firm
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