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