Question
Macroeconomics Question on Production Function
A manufacturer producing pens has the following information regarding the cost of production of pens:
Output (𝑄) | 1 | 2 | 3 |
---|---|---|---|
Total Costs (𝑇𝐶) | 4 | 13 | 32 |
"If the total cost function is of the form TC(Q)=aQ2+bQ+c where 𝑎, 𝑏, and 𝑐 are constants, then the value of TC(Q)atQ=4 is (in integer)."
Answer
The correct answer is :61