Question: Cost function of a single-product firm is \(C\left( Q \right)=50+25Q+30{{Q}^{2}}+5{{Q}^{3}}\)

Answer the following:

1. fixed cost of producing 10 units of output
2. variable cost of producing 10 units of output
3. total cost of producing 10 units of output
4. avg. fixed cost of producing 10 units of output
5. avg. variable cost of producing 10 units of output
6. avg. total cost of producing 10 units of output
7. marginal cost of producing 10 units of output

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Deliverable: Word Document