Marginal cost, and minimizing cost & average cost

Get the most by viewing this topic in your current grade. Pick your course now.

?
Intros
Lessons
  1. Marginal Cost, and Maximizing Cost & Average Cost Overview:
  2. Understanding and Minimizing Marginal Cost
  3. Understanding and Minimizing Average Cost
?
Examples
Lessons
  1. Finding & Minimizing the Cost
    Given the following information, find the marginal cost and the value of qq which minimizes the cost:
    1. C(q)=20+70q2 C(q)=20+70q^2
    2. C(q)=250+(1+q)(q10)2 C(q)=250+(1+q) (q-10)^2
    3. The fixed cost is $50000, and the cost to make each unit is $500
    4. The fixed cost is $25000, and the variable cost is $200q2q^2.
  2. Finding & Minimizing the Average Cost
    Given the following information, find the marginal average cost and the value of qq which minimizes the average cost:
    1. C(q)=q42q2+10q C(q)=q^4-2q^2+10q
    2. C(q)=100+q2 C(q)=100+q^2
    3. C(q)=q34q2+10q C(q)=q^3-4q^2+10q
    4. C(q)=2q C(q)=2q