Question: 1. If the cost function of the output of a soyabeans farm is C = 20 + 2/3q^2 (q^2 means q squared), and the proportion of the total cost that does not change with output is N10, where q is the quantity of output in bags, find:
a. TFC when output is 0, 3 and 6.
b. TVC when output is 0, 3, and 6.
c. TC when output is 0, 3, and 6. Edit
Answer: I will do the first three questions to help you out
a) TFC remains fixed no matter what the quantity being produced is. Hence, for all 3 outputs, TFC= 20.
B)For q=0, TVC = 0
For Q=3, TVC= 2/3*3^2= 6
For Q=6, TVC= 2/3*6^2=36
c) For q=0, TC = TVC + TFC= 20
For Q=3, TC = TVC + TFC= 6 + 20= 26
For Q=6, TC = TVC + TFC= 36 + 20= 56 Edit
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