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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 ... Tags cost, function, microeconomics Thread Tools Show Printable Version Email this Page Display Modes Linear Mode Switch to Hybrid Mode Switch to Threaded Mode Similar Threads Thread Thread Starter Forum Replies Last Post sam88221 Calculus 4 July 30th, 2012 10:02 PM pomazebog Calculus 5 March 28th, 2012 09:15 PM Ian McPherson Calculus 1 November 25th, 2011 01:15 PM princessanna57 Economics 2 May 21st, 2010 04:59 PM ax.brorson Economics 0 October 2nd, 2009 07:26 AM

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