Glasgow ECON 2001 - Peter’s Publishing House is a business

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Question # 00436826 Subject Economics Topic General Economics Tutorials: 1
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Peter’s Publishing House is a business which proof reads, edits,
prints and binds dissertations. The fixed cost is £16,000 for an
office and necessary equipment. Each dissertation involves costs
of £4000. Write down the fixed cost, variable cost and total cost functions
and show them on a diagram. Write down the average variable cost and average total cost
functions. Calculate the level of output (dissertations) which yields the
minimum average total cost and minimum average variable
cost. Write down the marginal cost function and discuss how it
relates to the AVC and ATC functions. At what level of output
does AVC=MC and ATC=MC?
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