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29 votes
29 votes
Consider the following total cost functions TC=3Q^3-5Q^2+4Q+150 find the Fixed Cost Function(FC)



User Gary Thomas
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1 Answer

14 votes
14 votes

Answer: 150

Explanation:

A fixed cost is referred to as a cost that does not change with the output level that is, it doesn't change when there is a rose or reduction in the amount of goods or services that are produced.

Since the total cost function is given as

TC=3Q³ - 5Q² + 4Q + 150, we can infer that from the equation the fixed cost is 150 while the variable cost is 3Q³ - 5Q² + 4Q

User GeekNinja
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