The short-run cost function of a company is given by the equation TC = 200 + 55q, where TC is the total cost and q is the total quantity of output, both measured in thousands. What would be its average fixed cost?
The short-run cost function of a company is given by the equation TC = 200 + 55q, where TC is the total cost and q is the total quantity of output, both measured in thousands. What would be its average fixed cost?
Chapter8: Production And Costs
Section: Chapter Questions
Problem 6QP
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The short-run cost function of a company is given by the equation TC = 200 + 55q, where TC
is the total cost and q is the total quantity of output, both measured in thousands.
What would be its average fixed cost?
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