Discussion Post
A firm's total cost function is given by the equation:
TC=4000+5Q+10Q^2
• Write an expression for each of the following cost concepts:
o Total Fixed Cost
o Total Variable Cost
o Average Variable Cost
o Average Total Cost
o Marginal Costs
o Average Fixed Costs.
• Determine the quantity that minimizes average total cost.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.