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Questions › CUET-PG › CUET-PG 2024 › Q49
4 marks, −1Microeconomics › Costs of production › Deriving cost functions and cost curvesHardabout 1 min

CUET-PG 2024 Question 49: Costs of production

Given a cubic cost function C(Q)=Q3+Q2+Q+1C(Q) = Q^{3} + Q^{2} + Q + 1C(Q)=Q3+Q2+Q+1, arrange Total Cost (TC), Marginal Cost (MC), Average Cost (AC) and Average Fixed Cost (AFC) in increasing order when Q=2Q = 2Q=2: (A) AFC (B) TC (C) MC (D) AC

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Given a cubic cost function C(Q) = Q³ + Q² + Q + 1, arrange Total Cost (TC), Marginal Cost (MC), Average Cost (AC) and Average Fixed Cost (AFC) in increasing order when Q = 2: (A) AFC (B) TC (C) MC (D) AC (A) (A), (B), (C), (D) (B) (A), (D), (B), (C) (C) (A), (C), (B), (D) (D) (C), (B), (D), (A)

Also written as: Given a cubic cost function C(Q) = Q^3 + Q^2 + Q + 1, arrange Total Cost (TC), Marginal Cost (MC), Average Cost (AC) and Average Fixed Cost (AFC) in increasing order when Q = 2: (A) AFC (B) TC (C) MC (D) AC

Costs of production has come up 83 times in 7 exams since 2006.

What this question tests

This question is on Deriving cost functions and cost curves, part of Costs of production in Microeconomics.

Working out cost curves from a cost function, a production function or a marginal cost schedule.

TestStop has 20 past-paper questions on this subtopic; the nearest in year are below.

  • GATE 2023 · Q59Consider the following short-run cost function: C(q) = 10q³-80q²+300q+50 At the minimum average variable…
  • IIT JAM 2022 · Q30The short-run production function is Q = 200 + 0.2L² - 0.0004L³. If the wage rate is Rs. 140 and labour L =…
  • IIT JAM 2022 · Q45The Total Variable Cost is TVC = x³ - bx² and the Total Fixed Cost is 848. The value of b for which Marginal…
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Question from the CUET-PG 2024 paper. Solutions are TestStop's own. Not affiliated with or endorsed by any examination authority.