Answer to Question #224772 in Macroeconomics for Tuji Yusuf

Question #224772
Given a short run cost function as T C =1 /Q 3 (3 is under subscript ) - 2Q 2(2 is under subscript ) +60Q+100 , find the minimum value of AVC and MC
1
Expert's answer
2021-08-11T09:17:55-0400

"a)\\\\\nTVC=\\frac{1}{3}q^3\u22122q^2+60q\\\\AVC=\\frac{1}{3}q^2\u22122q+60\\\\\nTC=\\frac{q^3}{3}\u22122q^2+60q+100"

"MC=\\frac{d}{dq}[\\frac{q^3}{3}\u22122q^2+60q+100]"

"MC=\\frac{1}{3}.\\frac{d}{dq}[q^3]\u22122.\\frac{d}{dq}[q^2]+60.\\frac{d}{dq}[q]+\\frac{d}{dq}[100]"

"\\\\MC=\\frac{3q^2}{3}\u2212(2\u00d72q)+(60\u00d71)+0\\\\MC=q^2\u22124q+60"

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Comments

Endale Hailu
28.05.23, 13:32

Thank u

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