Question

Which of the following correctly relates the average cost function

Cave(x) to the marginal, average cost function C'ave(x) when trying
to estimate the value of the average cost at the next x-value?
Cₐᵥₑ(x+1)=C'ₐᵥₑ(x).
Cₐᵥₑ(x+1)=C'ₐᵥₑ(x+1)+Cₐᵥₑ(x+1).
Cₐᵥₑ(x+1)=C'ₐᵥₑ(x)+Cₐᵥₑ(x)

Answer 1

The correct relationship between the average cost function Cave(x) and the marginal average cost function Cave'(x) is Cave(x+1) = Cave'(x) + Cave(x).

Step-by-step explanation:

The correct relationship between the average cost function Cave(x) and the marginal average cost function C'ave(x) is:

Cave(x+1) = C'ave(x) + Cave(x)

This means that to estimate the value of the average cost at the next x-value, you add the derivative of the average cost function C'ave(x) to the average cost at the current x-value Cave(x).