The marginal cost function for a good is given by
MC = −Q2 + 80Q.
Find the total cost function if fixed costs are 500.
MC=−Q2+80Q∫MCdQ=∫(−Q2+80Q)dQ=−Q33+40Q2+CMC = -Q^2+80Q\\ \int MC dQ = \int (-Q^2 +80Q)dQ = -\cfrac{Q^3}{3}+40Q^2+CMC=−Q2+80Q∫MCdQ=∫(−Q2+80Q)dQ=−3Q3+40Q2+C
So total cost function if cost are 500 is:
TC=−Q33+40Q2+500TC = -\cfrac{Q^3}{3}+40Q^2+500TC=−3Q3+40Q2+500
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