Question

If total cost =10+Q3, find out AC, AVC, TFC, AFC when Q-5.​

Answer 1

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Average cost = 15/5 =3

TVC = AVC *Q= 3*5=15

TFC = 15*5=75

AFC = TFC/Q =75/5=15

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Answer 2

Answer:

$formula \: use \\ tc = tfc + tvc \\ avc = \frac{tvc}{q} \\ afc = \frac{tfc}{q} \\ ac = \frac{tc}{q}$

1. TC = 10 + Q3 . The total cost has two components TFC and TVC.

2. TFC = is the total fixed cost which does not change with the level of output.

3. It is determined by putting the value of

Q. 4. Given the total cost function TC = 10 + Q3 Q = units of output.

Where Q = 5 Here TFC = 10

(TFC will not change when output changes)

TC = 10 + (5)3 TC = 10+125 TC = 135

∴ 135 = 10 + TVC 135 – 10 = TVC TVC = 125 TVC = 125, TC = 135

∴TFC = ? TC = (TFC + TVC) 135 = x + 125 135 – 125 = 10

∴ TFC = 10 AFC = TFC/Q TFC = 10, Q =5 AFC = 10/5 = 2

∴ AFC = 2 AVC = TV C/Q TVC = 125,Q = 5 AVC = 125

∴ AVC = 25 AC = AC/Q TC = 135,Q = 5 AC = 135/5 = 27 (or) AC = AFC + AVC AC = 2 + 25 AC = 27