Month (m): 4 Day (d): 1 Use the two numbers above, m and d, to complete the cost function for a perfectly competitive firm: Cost (q) = m q2 + d = (30) For a cost function like yours, Marginal Cost (MC) = 2 m q . Specifically, what are the following for the cost function you wrote out above? Fixed Cost = Average Total Cost = Cost (q)/q = Variable Cost = Average Fixed Cost = FC/q = Marginal Cost = 2 m q = Average Variable Cost = VC/q =
Month (m): 4 Day (d): 1
Use the two numbers above, m and d, to complete the cost function for a
Cost (q) = m q2 + d =
(30) For a cost function like yours, Marginal Cost (MC) = 2 m q . Specifically, what are the following for the cost function you wrote out above?
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Fixed Cost = |
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Variable Cost = |
Average Fixed Cost = FC/q = |
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Marginal Cost = 2 m q = |
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(15) Fill in the table with your values from your cost function.
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q |
Total Cost |
AVC |
AFC |
ATC |
MC |
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0 |
0 |
0 |
-- |
-- |
-- |
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1 |
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2 |
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3 |
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4 |
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5 |
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6 |
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