Suppose a firm has the following cost function: TC = 250q2+10q+100. Determine the marginal cost and average cost of production. The marginal cost is 500 and the average cost is 250. The marginal cost is 500q+100 and the average cost is 250q+10. The marginal cost is 250q+10+100/q and the average cost is 500q+10. The marginal cost is 500q+10 and the average cost is 250q+10+100/q.

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Suppose a firm has the following cost function: TC = 250q2+10q+100.  Determine the marginal cost and average cost of production.

The marginal cost is 500 and the average cost is 250.

The marginal cost is 500q+100 and the average cost is 250q+10.

The marginal cost is 250q+10+100/q and the average cost is 500q+10.

The marginal cost is 500q+10 and the average cost is 250q+10+100/q.
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