Tc=3q2+7q+12 where q=3
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TC = 3 q² + 7 q + 12
average cost function = TC / q = 3 q + 7 + 12/q
for q = 3, it is 20
marginal cost function = d (TC)/dq = 6 q + 7
for q = 3, it is 25..
Actually this method is quite good for large values of q.
marginal cost function in another way:
MC(q) = TC(q) - TC(q-1) = 3[q² - (q-1)²] + 7 [q - (q-1)]
= 6 q - 3 + 7 = 6 q + 4
MC(3) = 22
average cost function = TC / q = 3 q + 7 + 12/q
for q = 3, it is 20
marginal cost function = d (TC)/dq = 6 q + 7
for q = 3, it is 25..
Actually this method is quite good for large values of q.
marginal cost function in another way:
MC(q) = TC(q) - TC(q-1) = 3[q² - (q-1)²] + 7 [q - (q-1)]
= 6 q - 3 + 7 = 6 q + 4
MC(3) = 22
amit822singh:
can i get the average cost
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