Imagine that you are an entrepreneur, making designer t-shirts in your garage. your total cost (in dollars) is given by the equation tc = 300 + 10q, where q represents the number of t-shirts you make. your fixed cost is $ and your marginal cost is $â­â­.

fixed cost is $300 and marginal cost is $10

Explanation:

Data provided in the question:

total cost (in dollars) is given by the equation TC = 300 + 10Q,

where Q = the number of t-shirts we make

Now,

Total cost = Fixed cost + Total variable cost

The Fixed cost are the costs that remain constant for the range of products being manufactured

Therefore,

From the given function the constant value is $300

And,

The variable cost = Marginal cost × Number of products made

thus,

From the given equation, Marginal cost = $10

Hence,

The answer is fixed cost is $300 and marginal cost is $10

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