SHORT RUN COST FUNCTION TC=300+50Q-10Q2+Q3 WHAT IS THE VALUE OF FIXED COST?
To find the value of fixed cost in the short-run cost function, we need to determine the part of the cost that does not depend on the level of output (Q).
In the given cost function:
TC = 300 + 50Q - 10Q^2 + Q^3
The fixed cost is the constant term, which remains the same regardless of the level of output. In this case, the fixed cost is represented by the value 300, as it does not change with Q.
Therefore, the value of fixed cost in this short-run cost function is 300.