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

Answer:

AFC = $\frac{TFC}{q}$

MC = $\frac{d}{dq}$ TC

AVC = $\frac{TVC}{q}$

AC =  $\frac{TC}{q}$

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 = $\frac{9}{q}$

MC = $\frac{d}{dq}$ TC

MC = $\frac{d}{dq}$ $C=9+q^{2}$

MC = 2q

AVC = $\frac{TVC}{q}$

AVC = $\frac{q^2}{q}$

AVC = q

AC =  $\frac{TC}{q}$

AC =  $\frac{[tex]C=9+q^{2}$}{q}[/tex]

AC = $\frac{9}{q} +q$