Answer to Question #67719 in Microeconomics for Rishi Singh

Question

A is company has the variable cost function
Tvc=200q1 + 9q2 + 0.25 q3.
If the company fixed cost are equal to Rs 150 lakh.then find out
1.total cost function.
2.Marginal cost
3.Average variable cost function

Answer 1

1. TC=200q^1+9q^2+0.25q^3+150
2. MC=200+18q+0.75q^2
3. AVC=200+9q+0.25^2