Homework Help: Business Economics

Posted by Elise on Saturday, February 23, 2008 at 12:34am.

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

Business Economics - SraJMcGin, Saturday, February 23, 2008 at 9:31am
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 - Elise, Saturday, February 23, 2008 at 2:05pm
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 - economyst, Monday, February 25, 2008 at 9:38am
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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