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Consider a firm with cost function: TC(Q) = 100 + 8.5Q+19.5Q2. What is the variable cost...

Consider a firm with cost function: TC(Q) = 100 + 8.5Q+19.5Q2. What is the variable cost of producing 10.05 units?

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Answer #2

TC(Q) = 100 + 8.5Q + 19.5Q2

In the above TC function:

Total Fixed cost = 100

Total Variable cost = 8.5Q + 19.5Q2

If Q = 10.05

Total Variable cost = 8.5(10.05) + 19.5(10.05)2

                              = 85.43 + 1,969.55

                              = $2,054.98

answered by: anonymous
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