Final answer:
To find FC, TVC, AVC, ATC, and MC given the total cost function, calculate the fixed cost, variable cost, average variable cost, average total cost, and marginal cost using the provided formulas.
Step-by-step explanation:
To find the fixed cost (FC), we look at the term in the total cost function that does not depend on the quantity produced. In the given function TC = 600 + 4Q + 2Q², the fixed cost is 600.
To find the total variable cost (TVC), we look at the terms in the total cost function that depend on the quantity produced. In this case, the variable costs are 4Q + 2Q².
To find the average variable cost (AVC), we divide the total variable cost by the quantity produced. The formula for AVC is AVC = TVC / Q.
To find the average total cost (ATC), we divide the total cost by the quantity produced. The formula for ATC is ATC = TC / Q.
To find the marginal cost (MC), we calculate the change in total cost with respect to the change in quantity produced. The formula for MC is MC = ΔTC / ΔQ.