Question

In: Economics

Otto’s brotherDent runs an auto repair business. In his spare time, he calculated his total cost function.

Otto’s brotherDent runs an auto repair business. In his spare time, he calculated his total cost function. He found that the total cost of repairing cars is:TC = 2s2+ 10where sis the number of cars repaired. Write down equations for Dent’s:

i) total fixed cost.

ii) total variable cost.

iii) average variable cost.

iv) average fixed cost.

v) average total cost.

vi) marginal cost functions.

Solutions

Expert Solution

Rahul Sunny answered 2 years ago
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