For the cost function C(Q)= 100 + 2Q + 3Q²,the average fixed cost of producing 2 units of output is: A) 100. B) 50. C) 3. D) 2.

Name: For the cost function C(Q)= 100 + 2Q + 3Q 2 ,the average fixed cost of producing 2 units of output is: A) 100. B) 50. C) 3. D) 2.
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Question

Quizplus · Accepted Answer

The average fixed cost (AFC) is given by the formula:

AFC = Total Fixed Cost / Quantity

From the given cost function, we have:

Total Fixed Cost = 100

Quantity Q = 2

Therefore, AFC = 100/2 = 50.

Hence, the answer is (B) 50.

For the Cost Function C(Q)= 100 + 2Q + 3Q2,the

For the Cost Function C(Q)= 100 + 2Q + 3Q²,the