COST FUNCTION
COST FUNCTION 1. The total cost function of a firm is given by C =2/5X + 49/2 Where C is total cost and x is the units of output. Find i) total cost when output is 100 units ii) AC when output is 250 units iii) MC when output is 75 units 2. If the cost function is given by : C= 1000+100x-50x 2 +1/3 x 3 Find out i) MC and Slope of MC curve ii)ATC function and iii) the value of x when AVC=MC 3. Given the following information, determine the equations for TFC, AFC, TVC,AC,TC,AC & MC 1) X=20l, WHERE X=units of output and L=units of labour 2) Price of variable input = Rs.10 3) 50 units of fixed inputs are used ...