If Average Variable Cost AVC = 10 + Q and P = 50. Find: Total Cost TC, Total Fixed Cost TFC, Total Variable Cost TVC, Average Total Cost ATC, Average Fixed Cost AFC

If Average Variable Cost AVC = 10 + Q and P = 50. Find: Total Cost TC, Total Fixed Cost TFC, Total Variable Cost TVC, Average Total Cost ATC, Average Fixed Cost AFC

To find the Total Cost (TC), we need to determine the Total Fixed Cost (TFC) and the Total Variable Cost (TVC).

Total Fixed Cost (TFC): The fixed costs remain constant regardless of the quantity produced. In this case, we are not given any information about fixed costs. So, we can assume that TFC is not provided in the given information.

Total Variable Cost (TVC): TVC is the sum of all variable costs associated with producing a specific quantity. The average variable cost (AVC) function given is AVC = 10 + Q, where Q represents the quantity produced. To find TVC, we need to integrate the AVC function.

Integrating AVC = 10 + Q:
∫(10 + Q) dQ = 10Q + (0.5 * Q^2) + C1

Here, C1 represents the constant of integration. However, since we are interested in the total variable cost (TVC) and not the specific cost function, we can ignore the constant of integration. So, the Total Variable Cost (TVC) would be:
TVC = 10Q + (0.5 * Q^2)

Total Cost (TC): TC is the sum of TFC and TVC. In this case, since we are not given TFC, we cannot calculate TC with the available information.

Average Total Cost (ATC): ATC is calculated by dividing the Total Cost (TC) by the quantity produced (Q). Since we don't have TC or Q, we cannot calculate ATC with the given information.

Average Fixed Cost (AFC): AFC is calculated by dividing the Total Fixed Cost (TFC) by the quantity produced (Q). Since we don't have TFC or Q, we cannot calculate AFC with the given information.

Therefore, with the given information, we can only determine the Total Variable Cost (TVC) using the given AVC function.