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Questions › UoH › UoH 2020 › Q55
1 mark, −0.33Microeconomics › Costs of production › Deriving cost functions and cost curvesModerateabout 2 min

UoH 2020 Question 55: Costs of production

For the total cost function: TC(q)=q3−6q2+14q+75TC(q) = q^3 - 6q^2 + 14q + 75TC(q)=q3−6q2+14q+75, find the output at which point average variable cost is minimum.

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For the total cost function: TC(q) = q³ - 6q² + 14q + 75, find the output at which point average variable cost is minimum. (A) q = 3 (B) q = 5 (C) q = 4 (D) q = 6

Also written as: For the total cost function: TC(q) = q^3 - 6q^2 + 14q + 75, find the output at which point average variable cost is minimum.

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

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Question from the UoH 2020 paper. Solutions are TestStop's own. Not affiliated with or endorsed by any examination authority.