Suppose a Firm's Total Cost Curve Is Given by the Equation

question 65

Multiple Choice

Suppose a firm's total cost curve is given by the equation $T C = Q ^ { 2 } + 2 Q + 100$ . The firm's marginal cost is $M C = 2 Q + 2$ . At what level of $Q$
does the firm's average cost curve reach a minimum?

• A) 100
• B) 2
• C) 10
• D) 20

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Definitions:

Quantitative Management

An approach to management that focuses on statistical and mathematical models to solve business problems and make decisions.

Mathematical Techniques

Methods or procedures derived from mathematical principles used to solve problems or analyze data.

Human Resource

The department within an organization that deals with the recruitment, management, and development of employees.

Inventory Analysis

The examination and evaluation of stock to ensure efficient management and optimization of resources.