ECON 315- SI- Week 7.1

 A firm total cost function is as follows: TC= 2000+30Q-5Q^2+0.5Q^3. Find AVC

• 30 -5Q +0.5Q^2

• 30 -5Q +2Q^2

• 15 -5Q +0.5Q^2

• 30 -5Q +0.5Q^-2

Tags

CCSS.HSA.APR.A.1

CCSS.HSA.CED.A.4

CCSS.HSA.SSE.A.1

CCSS.HSA.SSE.A.2

CCSS.HSA.SSE.B.3

An economist estimated that the cost function of a single-product firm is 

C(Q)= 50 +25Q +30Q^2+5Q^3. Find TFC and TVC at 10 units of output

• TFC= 8250, TVC = 50

• TFC= 50, TVC = 8250

• TFC= 100, TVC = 8250

• TFC= 50, TVC = 850

Tags

CCSS.HSA.APR.A.1

CCSS.HSA.SSE.A.1

the cost function of a single-product firm is 

C(Q)= 50 +25Q +30Q^2+5Q^3. Find MC at 10 units of output

• 2305

• 2105

• 2125

• 2115

Tags

CCSS.HSA.APR.A.1

If a firm’s total cost function is TC = 400 + 5Q -3Q2 + 2Q3, what is the firm’s ATC if it produces 20 units of output?

• 725

• 745

• 755

• 765

Tags

CCSS.HSA.APR.A.1

CCSS.HSA.CED.A.4

CCSS.HSA.SSE.A.1

Which costs could change that would be irrelevant to decisions moving forward?

• All costs are relevant

• Both orange and pink are correct

• TFC

• Sunk costs

Tags

CCSS.HSS.MD.B.5

is continually downward sloping

Tags

CCSS.HSA.REI.D.10

CCSS.HSF.IF.B.4

CCSS.HSF.IF.C.7

U-Shaped curve passes through the minimum of ATC and AVC

Tags

CCSS.HSA.REI.D.10

CCSS.HSA.CED.A.2

curve is Horizontal

Tags

CCSS.HSA.REI.D.10

continually upwardly sloping and is above the TVC curve.  

Tags

CCSS.HSA.REI.D.10

CCSS.HSA.CED.A.2

are all u-shaped

Tags

CCSS.HSA.REI.D.10