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[DOC File]COSTS OF PRODUCTION
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5. Suppose a perfectly competitive firm has a total cost function that is equal to TC = q2 + 100q + 100. Furthermore, suppose you know that the firm’s marginal cost function is MC = 2q + 100. From this information answer this set of questions. a. At what quantity of output is average total cost minimized? b.
cost function formula calculator

[DOC File]Cost, Revenue, and Profit Functions
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The Cost Function. First, type in the cost function. TC = 5,000,000 + .2Q2. Each number should be in its own cell. The other symbols can be placed in the same sell. For example, in A1, you would put TC =, but in B1 you would put 5,000,000, then in C1 you would put ‘+ …
cost function calculator

[DOC File]To make a spreadsheet for total cost, put quantities in ...
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The cost formula is therefore $6,500 per month plus $3.30 per X-ray taken. Written in equation form, the cost formula is: Y = $6,500 + $3.30X, where X is the number of X-rays taken. 3. The high-low method would not provide an accurate cost formula in this situation, since a line drawn through the high and low points would have a slope that is ...
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How to Calculate for a Cost Function | Bizfluent
Cost, Revenue, and Profit Functions. A . cost function . specifies the cost C as a function of the number of items x. Thus, C(x) is the cost of x items. A cost function of the form. C(x) = mx + b. is called a . linear cost function. The quantity mx is called the . variable cost . and the intercept b is called the . fixed cost. The slope m, the ...
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[DOC File]Chapter 5
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The slope of a function is called the derivative, and is often denoted by a prime (' ). The verb “differentiate” a function means to “take derivative” of that function with respect to its variable. For instance, if C denotes a cost function, then its marginal cost is the first derivative of the cost function…
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[DOC File]Economics 101 - SSCC
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2. Cost behavior is approximated by a linear cost function within the relevant range. A linear cost function is a cost function where, within the relevant range, the graph of total costs versus the level of a single activity forms a straight line. 10-17 (15 min.) Identifying variable-, fixed-, and mixed-cost functions. 1. See Solution Exhibit ...
revenue function

Cost function formula