Posted by Brett on Tuesday, February 10, 2009 at 10:04pm.
Im having trouble with filling in a table for MC TC and AC given a cost funchtion
The cost functon is C(q)= 50+.5q
im given q 1 through 7
Ive aready calculated TC for q=1 TC=50.5 for q=2 TC=51 and so on
MC is where im having Trouble.
i know MC = dC(q)/dq or change in cost over change in q.
my teacher is telling me that the MC for q=2 IS 51/2=25.5 But wouldnt MC= .5/1 ( 5150.5)/(21) I cant get him to respond to my emails and im panicing
Thanks

Math  drwls, Wednesday, February 11, 2009 at 1:01am
It would help if you told us what MC, TC and AC mean. Marginal, total and average cost? It looks like your C(q) is already a total cost.
The marginal cost is the cost of making one more. That is clearly 0.5 here.
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