Derivation of avc and mc function. a companys total cost, Ask an Expert

Economics

Derivation of AVC and MC function

A company's total cost function is given by

TC= 100 + 3Q-0.1Q2 +0.4Q3

• Illustrate what is the company's fixed cost?

• Derive the average variable cost function.

• Derive the marginal cost function?

• Find the output which minimizes the AVC. (at minimum of AVC, MC=AVC)

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M917129

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