asked 106k views
1 vote
The total cost c(q) of producing q goods is given by: c(q)=0.01q3−0.6q2+14q what is the fixed cost?

1 Answer

2 votes
We have that the fixed cost is in general the cost that happens when one produces products that is irrespective of the number of products produced. This can encompass various costs like rent of the factory and some standard machine check-up costs. In this equation, we have no standard costs; when 0 prodcuts are produced, the cost is 0 (it is a polynomial with a 0 constant term). Thus, we get that the fixed costs are 0.
answered
User MrDosu
by
8.0k points

Related questions

asked Jun 16, 2018 157k views
Robert Ellis asked Jun 16, 2018
by Robert Ellis
8.0k points
1 answer
2 votes
157k views
1 answer
3 votes
52.7k views
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.