The''Sad Student'' Company finds that it costs a total of (q)=9720+500q-1.5q^(2)+0.005q^(3) Dollars to produce q lots of its latest board game named ''Calculus Teacher Shooter'' each lot of 100 games. D)Interpret the effect of the constant term in the expression of total cost function on marginal cost function. E)Analyze the behavior average cost funtion. F)Analyze interaction of marginal cost and average cost numerically; and derive the formula of this relationship with respect to relevant mathematical economics theory and interpret your formula.
The''Sad Student'' Company finds that it costs a total of (q)=9720+500q-1.5q^(2)+0.005q^(3) Dollars to produce q lots of its latest board game named ''Calculus Teacher Shooter'' each lot of 100 games. D)Interpret the effect of the constant term in the expression of total cost function on marginal cost function. E)Analyze the behavior average cost funtion. F)Analyze interaction of marginal cost and average cost numerically; and derive the formula of this relationship with respect to relevant mathematical economics theory and interpret your formula.
Chapter16: Labor Markets
Section: Chapter Questions
Problem 16.7P
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The''Sad Student'' Company finds that it costs a total of
(q)=9720+500q-1.5q^(2)+0.005q^(3)
Dollars to produce q lots of its latest board game named ''Calculus Teacher Shooter'' each lot of 100 games.
D)Interpret the effect of the constant term in the expression of total cost function on marginal cost function.
E)Analyze the behavior average cost funtion.
F)Analyze interaction of marginal cost and average cost numerically; and derive the formula of this relationship with respect to relevant mathematical economics theory and interpret your formula.
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