How to find average cost functions given total cost function example

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Example of how to find ATC, AFC, AVC, TVC and TFC given a total cost function.

Cost Function Components: A firm’s total cost function is given by the equation : TC = 4000 + 5q + 10q^2

Write an expression for each of the following cost concepts: (1) Total Fixed Cost, (2) Average Fixed Cost, (3) Total Variable Cost, (4) Average Variable Cost, and (5) Average Total Cost.
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2. Ralem Enterprises Ltd is a firm producing leggings and fittings and its faced with a cost function of ;
TC=1/8Q3-4Q2
+20Q+40, given the value of Q as 20, calculate the following
i.
VC
ii.
MC
iii.
AFC
iv.
AVC
v.
ATC

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