Straker Industries Estimated Its Short-Run Costs Using a U-Shaped Average $A V C = a + b Q + c Q ^ { 2 }$

question 11

Multiple Choice

Straker Industries estimated its short-run costs using a U-shaped average variable cost function of the form $A V C = a + b Q + c Q ^ { 2 }$ and obtained the following results.Total fixed cost (TFC) at Straker Industries is $1,000. If Straker Industries produces 20 units of output,what is estimated total cost (TC) ?

• A)$1,348
• B)$1,498
• C)$2,348
• D)$4,428

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Definitions:

Axons

Long fiber-like parts of a nerve cell that are involved in transmitting electrical signals from the cell body to other cells.

Corpus Callosum

A large bundle of nerve fibers that connects the left and right hemispheres of the brain, facilitating interhemispheric communication.

Lateralization

The tendency for some neural functions or cognitive processes to be more dominant in one hemisphere of the brain than the other.

Calcium

A chemical element crucial for building bones and teeth, and necessary for the functioning of muscle movement and nerve signaling.