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March 28th, 2012, 08:49 PM   #1
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going for average cost function to total cost function

Hey, just got a simple question here...

How would I turn this average cost function into a total cost function?

can anyone help please?
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March 28th, 2012, 08:58 PM   #2
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Re: going for average cost function to total cost function

Average cost is total cost per unit:



So, take the average cost, and multiply by the number of units q.
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March 28th, 2012, 08:59 PM   #3
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Re: going for average cost function to total cost function

is the correct answer for total cost ??
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March 28th, 2012, 09:03 PM   #4
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Re: going for average cost function to total cost function

Well, I would write:



Can you identify the fixed cost and the marginal cost from this?
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March 28th, 2012, 09:12 PM   #5
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Re: going for average cost function to total cost function

marginal cost would be the derivative. which would be

Fixed cost however, we haven't worked on in calculus class.
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March 28th, 2012, 09:15 PM   #6
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Re: going for average cost function to total cost function

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