Question

Give the formulas for and plot average fixed​ cost, AFC, marginal​ cost, MC, average variable​ cost, AVC, and average​ cost, AC, if the cost function​ is: C=9+q^2.

Answer 1

AFC =
`(TFC)/(q)`

MC =
`(d)/(dq)` TC

AVC =
`(TVC)/(q)`

AC =
`(TC)/(q)`

Step-by-step explanation:

The cost function is given as
`C=9+q^(2)`.

The fixed cost here is 9, it will not be affected by the level of output.

The variable cost is
`q^(2)`.

AFC =
`(9)/(q)`

MC =
`(d)/(dq)` TC

MC =
`(d)/(dq)`
`C=9+q^(2)`

MC = 2q

AVC =
`(TVC)/(q)`

AVC =
`(q^2)/(q)`

AVC = q

AC =
`(TC)/(q)`

AC =
}{q}[/tex]

AC =
`(9)/(q) +q`