Give the formulas for and plot average fixed cost, AFC, marginal cost, MC, average variable cost, AVC, and average cost, AC, if the cost function is: 20.00 19.00 19.00- 17.00 16.00- 15.00- 14.00 n 13.00- * 12.00 5 11.00 10.00- 9.00 8.00- 7.00- 6.00- 5.00- 4.00- 3.00- 2.00 1.00 0.00 C= 12 + 8g - 4g +g. Marginal cost is: MC- 8- 8q + 3q Average fixed cost is: 12 AFC= Average variable cost: AVC = 8- 4q + 9? Average cost is: Quantity, q. Units per day AC = If you are viewing this on a test or quiz, you must click the graph to anable the drawing fools.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Give the formulas for and plot average fixed cost, AFC, marginal cost, MC, average
variable cost, AVC, and average cost, AC, if the cost function is:
20.00
19.00
18.00
17.00
18.00
15.00-
14.00
n 13.00-
* 12.00
5 11.00
10.00
C= 12 + 8q - 4g? + q.
Marginal cost is:
MC = 8- Bq + 3q
Average fixed cost is:
9.00-
8.00-
12
AFC=
7.00-
6.00-
5.00-
4.00-
Average variable cost:
3.00-
AVC - 8-4q +g?
2.00
1.00
0.00
Average cost is:
Quantity, q. Units per day
AC =|
If you ave viewing this on a test or quiz, you must click the graph to
anable the drawing tools.
Transcribed Image Text:Give the formulas for and plot average fixed cost, AFC, marginal cost, MC, average variable cost, AVC, and average cost, AC, if the cost function is: 20.00 19.00 18.00 17.00 18.00 15.00- 14.00 n 13.00- * 12.00 5 11.00 10.00 C= 12 + 8q - 4g? + q. Marginal cost is: MC = 8- Bq + 3q Average fixed cost is: 9.00- 8.00- 12 AFC= 7.00- 6.00- 5.00- 4.00- Average variable cost: 3.00- AVC - 8-4q +g? 2.00 1.00 0.00 Average cost is: Quantity, q. Units per day AC =| If you ave viewing this on a test or quiz, you must click the graph to anable the drawing tools.
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