Consider a GP practice, whose short-run cost of producing Q units of primary care is given as SC(Q)=0.01Q^3-5Q^2+1000Q+1000. For this GP practice calculate the:
a) Short-run average cost curve
b) Short-run fixed costs and variable costs.
Consider a GP practice, whose short-run cost of producing Q units of primary care is given as SC(Q)=0.01Q^3-5Q^2+1000Q+1000. For this GP practice calculate the:
a) Short-run average cost curve
b) Short-run fixed costs and variable costs.
