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 March 28th, 2012, 08:49 PM #1 Senior Member   Joined: Jan 2012 Posts: 100 Thanks: 0 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? can anyone help please?
 March 28th, 2012, 08:58 PM #2 Senior Member     Joined: Jul 2010 From: St. Augustine, FL., U.S.A.'s oldest city Posts: 12,155 Thanks: 461 Math Focus: Calculus/ODEs 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.
 March 28th, 2012, 08:59 PM #3 Senior Member   Joined: Jan 2012 Posts: 100 Thanks: 0 Re: going for average cost function to total cost function is the correct answer for total cost $c=98x+273$??
 March 28th, 2012, 09:03 PM #4 Senior Member     Joined: Jul 2010 From: St. Augustine, FL., U.S.A.'s oldest city Posts: 12,155 Thanks: 461 Math Focus: Calculus/ODEs 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?
 March 28th, 2012, 09:12 PM #5 Senior Member   Joined: Jan 2012 Posts: 100 Thanks: 0 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.
 March 28th, 2012, 09:15 PM #6 Senior Member     Joined: Jul 2010 From: St. Augustine, FL., U.S.A.'s oldest city Posts: 12,155 Thanks: 461 Math Focus: Calculus/ODEs 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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