Straker Industries estimated its short-run costs using a U-shaped average variable cost function of the form $A V C = a + b Q + c Q ^ { 2 }$ and obtained the following results.Total fixed cost (TFC)at Straker Industries is $1,000. If Straker Industries produces 12 units of output,what is estimated average variable cost (AVC)?
A)$28.04
B)$32.40
C)$33.33
D)$38.60

Question

Straker Industries estimated its short-run costs using a U-shaped average variable cost function of the form $A V C = a + b Q + c Q ^ { 2 }$ and obtained the following results.Total fixed cost (TFC)at Straker Industries is $1,000.  If Straker Industries produces 12 units of output,what is estimated average variable cost (AVC)?
A)$28.04 
B)$32.40 
C)$33.33 
D)$38.60

Quizplus · Accepted Answer

The Answer of Straker Industries estimated its short-run costs using a U-shaped average variable cost function of the form $A V C = a + b Q + c Q ^ { 2 }$ and obtained the following results.Total fixed cost (TFC)at Straker Industries is $1,000.  If Straker Industries produces 12 units of output,what is estimated average variable cost (AVC)?
A)$28.04 
B)$32.40 
C)$33.33 
D)$38.60

Straker Industries Estimated Its Short-Run Costs Using a U-Shaped Average AVC=a+bQ+cQ2A V C = a + b Q + c Q ^ { 2 }AVC=a+bQ+cQ2

Straker Industries Estimated Its Short-Run Costs Using a U-Shaped Average $A V C = a + b Q + c Q ^ { 2 }$