Skip to content
We use only essential cookies to keep you signed in and remember your preferences. See our Cookie Policy.
TestStop
MocksPracticeResourcesIndiaBlogPricing
Sign in
Questions › UoH › UoH 2011 › Q61
1 mark, −0.33Microeconomics › Costs of production › Deriving cost functions and cost curvesModerateabout 1 min

UoH 2011 Question 61: Costs of production

Given TC = 3q2^22 + 7q + 12 (q = quantity; TC = total cost), the marginal cost (MC) and average cost (AC) at q = 3 are

Tap an option to check your answer.

Answer and worked solution

Checking your account…

Plain-text version

Given TC = 3q ² + 7q + 12 (q = quantity; TC = total cost), the marginal cost (MC) and average cost (AC) at q = 3 are (A) MC = 25; AC = 20 (B) MC = 20; AC = 25 (C) MC = 5; AC = 16 (D) None of the above

Also written as: Given TC = 3q ^2 + 7q + 12 (q = quantity; TC = total cost), the marginal cost (MC) and average cost (AC) at q = 3 are

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.

  • 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…
  • GATE 2023 · Q59Consider the following short-run cost function: C(q) = 10q³-80q²+300q+50 At the minimum average variable…
Practise Costs of productionMore on Deriving cost functions and cost curves

Similar questions from other papers

  • CUET-PG 2026 · Q5A zero economic profit means that the firm is earning a
  • GATE 2026 · Q53In terms of the general relations among total cost, average cost and marginal cost, which of the following statements is/are FALSE?
  • IIT JAM 2026 · Q28A single-input production function is given by Q=L⁰·²⁵, where Q>0 and L>0 denote output and the single input. The unit price of L is w>0. The cost is C₁ when no output…
  • UGC-NET 2026 · Q52Which of the following level of utilization is considered as "Normal" by a firm?
  • CUET-PG 2025 · Q7If the marginal cost of a firm is given as the function of output, C′(Q) = 2 e^(0.2Q) and if the fixed cost is 75, find the total cost function.

Question from the UoH 2011 paper. Solutions are TestStop's own. Not affiliated with or endorsed by any examination authority.