If a firm’s total cost function is given by the formula: TC = 400,000 + 4Q, where the fixed costs comprise expenditures on plant and equipment of $300,000, and salaries for employees of $100,000. If the firm produces 10,000 units of output, then the fixed cost is equal to $_____ and the average total cost is equal to $_____: - 440,000; 44 - 400; 44. - 440,000; 4. - 400; 4. - 400,000; 44.

If a firm’s total cost function is given by the formula: TC = 400,000 + 4Q, where the fixed costs comprise expenditures on plant and equipment of $300,000, and salaries for employees of $100,000. If the firm produces 10,000 units of output, then the fixed cost is equal to $_ and the average total cost is equal to $_: - 440,000; 44 - 400; 44. - 440,000; 4. - 400; 4. - 400,000; 44.

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Proudction Costs

Section: Chapter Questions

Problem 8SQ

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