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March 27, 2017

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How do you generate the average variable function (AVC) given the estimated marginal cost function (SMC)?

  • Business Economics - ,

    Thank you for using the Jiskha Homework Help Forum. Hopefully this tutorial will help:

    http://www.economics.utoronto.ca/osborne/2x3/tutorial/C1INFRM.HTM

  • Business Economics - ,

    I got a few answers but I don't know which one is correct.

    If the SMC = 80 - 0.1Q + 0.0001Q2, what would be the correct answer fo AVC?

    I'm still a bit confused.

  • Business Economics - ,

    Total cost can be derived by integrating the marginal cost function.
    I get TC = 9=80Q - (.1/2)Q^2 + (.0001/3)Q^3.

    Devide by Q to get AVC

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