For the given cost function, find TFC and MC, TC = 10,000 +10Q 1. TFC =...

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Question

For the given cost function, find TFC and MC, TC = 10,000 +10Q

1. TFC = $10,000 & MC = $10

2. TFC = $10 & MC = $(10,000/Q) + $10

3. TFC = $10,000 & MC = $10,000

4. TFC = $10 & MC = $10

Pls explain how to get TFC & MC thanks!

business economics

Answer 1

Answer #1

Answer: Option (1) TFC = $10,000 & MC = $10

Marginal cost is the derivative of the cost function, so take the derivative and evaluate it.

MC = dTC/dQ

Fixed cost is incurred whether or not any output is produced. So total fixed cost (TFC) is the total cost when quantity produced is zero.

TFC = TC (when Q=0)

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Answer 2

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