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Examples of cost function. 1) Total cost: TC(q) = 10 + 10q. Marginal cost: MC(q) = dT C(q) dq. = 10. Average cost: AC(q) = TC(q).
Typology: Study notes
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Examples of cost function
Marginal cost: MC(q) =
dT C(q)
dq
Average cost: AC(q) =
T C(q)
q
10+q+q
2
q
10
q
where AV C(q) = 10 and AF C(q) =
10
q
q
2
Marginal cost: MC(q) =
dT C(q)
dq
= 1 + 2q
Average cost: AC(q) =
T C(q)
q
10+q+q
2
q
10
q
where AV C(q) = 1 + q and AF C(q) =
10
q
q
2
3
Marginal cost: MC(q) =
dT C(q)
dq
= 10 − 8 q + 3q
2
Average cost: AC(q) =
T C(q)
q
10+10q− 4 q
2 +q
3
q
10
q
2
where AV C(q) = 10 − 4 q + q
2
and AF C(q) =
10
q
q
