For the Cost Function C(Q)= 100 + 2Q + 3Q²,the

question 156

Multiple Choice

For the cost function C(Q) = 100 + 2Q + 3Q²,the average fixed cost of producing 2 units of output is:

• A) 100.
• B) 50.
• C) 3.
• D) 2.

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Definitions:

Establishing the Market

The process of defining and understanding the potential audience for a product or service, including their needs and how best to reach them.

Market Acceptance

The degree to which a new product or service is positively received and adopted by its intended market or audience.

Innovators

Individuals or organizations that are first to explore and adopt new ideas, technologies, or practices, often leading the way in developments or trends.

Pioneer Products

The first offerings brought to the market in a specific category, often opening new consumer demand or creating a new industry.