Business Economics

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

C(Q) = 80 + 20Q + 25Q2 + 5Q3.

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Based on this information, determine the following:

a. The fixed cost of producing 10 units of output.

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b. The variable cost of producing 10 units of output.

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c. The total cost of producing 10 units of output.

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d. The average fixed cost of producing 10 units of output.

$[removed]

e. The average variable cost of producing 10 units of output.

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f. The average total cost of producing 10 units of output.

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g. The marginal cost when Q = 10.

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