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Managerial Economics · Quiz 1 · 7 Jul 2024 · May 2024 term

Question 8: If the company produced 100 units of goods, what would be…

Question 8

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The short-run cost function of a company is given by the equation TC = 200 + 55q, where TC is the total cost and q is the total quantity of output.
Based on the above data, answer the given subquestions.

If the company produced 100 units of goods, what would be its average variable cost? ___________

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Correct answer: 55

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Question 8 of 19 in the IIT Madras BS Managerial Economics (Managerial Economics) Quiz 1 paper sat on 7 Jul 2024, in the May 2024 term (IIT M DEGREE AN EXAM QDB2 7 July 2024). It carries 1 mark.

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