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Managerial Economics

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For a cost function C = 100 + 10Q + Q2, the average variable cost of producing 20 units of output is
A. 10
B. 20
C. 30
D. None of the statements associated with this question are correct

  • Managerial Economics -

    Plug 20 into your formula for total costs, then calculate average variable cost. Remember, the 100 in the total cost represents fixed costs.

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