The short-term total cost curve is as follows. TC=10+10Q^2

Lead short-term average cost curve (AC), average variable cost curve (AVC), and average fixed cost curve (AFC) into formulas, and draw pictures.

Solutions

Expert Solution

TC = 10 + 10*Q^2

TVC = 10*Q^2, TFC = 10

1) AVC = TVC/Q = 10Q

2) AFC = TFC/Q = 10/Q

3) AC= AFC+ AVC

= 10/Q + 10Q

Rahul Sunny answered 1 year ago

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