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-   -   going for average cost function to total cost function (http://mymathforum.com/calculus/26212-going-average-cost-function-total-cost-function.html)

 pomazebog March 28th, 2012 08:49 PM

going for average cost function to total cost function

Hey, just got a simple question here...

How would I turn this average cost function $c=98+\frac{273}{q}$ into a total cost function?

 MarkFL March 28th, 2012 08:58 PM

Re: going for average cost function to total cost function

Average cost is total cost per unit:

$\bar{c}=\frac{c}{q}\:\therefore\:c=\bar{c}q$

So, take the average cost, and multiply by the number of units q.

 pomazebog March 28th, 2012 08:59 PM

Re: going for average cost function to total cost function

is the correct answer for total cost $c=98x+273$??

 MarkFL March 28th, 2012 09:03 PM

Re: going for average cost function to total cost function

Well, I would write:

$c(q)=98q+273$

Can you identify the fixed cost and the marginal cost from this?

 pomazebog March 28th, 2012 09:12 PM

Re: going for average cost function to total cost function

marginal cost would be the derivative. which would be $c'(q)=98$

Fixed cost however, we haven't worked on in calculus class. :?

 MarkFL March 28th, 2012 09:15 PM

Re: going for average cost function to total cost function

Fixed cost is simply c(0) or in this case the constant 273. :mrgreen:

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