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 October 17th, 2014, 04:15 PM #1 Member   Joined: Sep 2013 Posts: 83 Thanks: 0 Microeconomics - Cost function Can some one explain the results a bit more than the solutions manual does on this particular question ? Exercise 2.3 Consider the following structure of the cost function: C(w,0) =0, $\displaystyle C_{q}$(w,q) = int(q) where int(x) is the smallest integer greater than or equal to x. Sketch total, average and marginal cost curves. From the question the cost function is given by: $\displaystyle C(q,w)=kq-k+1,k-1< q\leqslant k,k=1,2,3...$ so that average cost is $\displaystyle k+\frac{1-k}{q},k-1< q \leqslant k,k=1,2,3....$ See Figure 2.6. I don't know how to copy in pictures on the figure ...

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