Directions: For each of the following problems you should use EXCEL to calculate the various measures of costs. There are supplemental instructions for each problem. For your final copy to turn in you should make sure that each problem is numbered and that headings are provided for each column of numbers. You should also provide headings for each problem and graph and other appropriate documentation. Round all numbers to two decimal points. 1. You are given the following total cost function for a firm: TC = (25+F) +L xQ+0.5 x(Q³) where F=the number of the letter of the alphabet corresponding to the initial of your first name, and L=number of the letter of the alphabet corresponding to the initial of your last name. For example, if your name were Bill Weber, F=2 and L=23, so (MY NAME IS GABRIEL RIVES) TC = 27 + 23 xQ+0.5 × Q.
Directions: For each of the following problems you should use EXCEL to calculate the various measures of costs. There are supplemental instructions for each problem. For your final copy to turn in you should make sure that each problem is numbered and that headings are provided for each column of numbers. You should also provide headings for each problem and graph and other appropriate documentation. Round all numbers to two decimal points. 1. You are given the following total cost function for a firm: TC = (25+F) +L xQ+0.5 x(Q³) where F=the number of the letter of the alphabet corresponding to the initial of your first name, and L=number of the letter of the alphabet corresponding to the initial of your last name. For example, if your name were Bill Weber, F=2 and L=23, so (MY NAME IS GABRIEL RIVES) TC = 27 + 23 xQ+0.5 × Q.
Chapter6: Proudction Costs
Section: Chapter Questions
Problem 8SQP
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Hello! Please do problem #2 with MY initials. My initial for my first name is “G” and initial for my last name is “R”.
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