Gce Model Questions Vol1 2021 Economics Question 42
Practice objective / multiple choice question 42 from the 2021 Gce Model Questions Vol1 Economics examination.
A firm's total cost function is \(TC = F + aQ + bQ^{2}\), where \(F\) is fixed cost, \(a\) and \(b\) are positive constants and \(Q\) is output. The fixed cost is \(\,1500\). At an output of \(Q=100\) the average total cost is \(20\) and the marginal cost is \(30\). At what output level is average total cost minimised?
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About This Question
This is Gce Model Questions Vol1 2021 Economics Question 42. It is one of the objective questions from the 2021 Gce Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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