Give The Formulas For And Plot Average Fixed Cost Afc Marginal Cost Mc Average Variable Cost Avc And Average Cost 1 (141.62 KiB) Viewed 60 times
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: C = 3 +9q -4q² +q³. Marginal cost is: Average cost is: 3 AC = - +9-4q+q²2² q 1.) Use the 3-point curved line drawing tool to draw the average fixed cost curve for MC = 9-8q+3q² Average fixed cost is: 3 AFC = q Average variable cost: 2 AVC= 9-4q+q² I 20.00- 19.00- 18.00- 17.00- 16.00- 15.00- 14.00- 13.00- 12.00- 11.00- 10.00- 9.00- 8.00- 7.00- 6.00 5.00 4.00- 3.00- 2.00- 1.00- 0.00- 0 1 2 3 Quantity, q, Units per day If you are viewing this on a test or quiz, you must click the graph to enable the drawing tools. Cost per unit, $
1.) Use the 3-point curved line drawing tool to draw the average fixed cost curve for quantities q = 1, q=2, and q=3. Label this line 'AFC'. 2.) Use the 3-point curved line drawing tool to draw the average variable cost curve for quantities q = 1, q=2, and q=3. Label this line 'AVC'. 3.) Use the 3-point curved line drawing tool to draw the average cost curve for quantities q=1, q=2, and q = 3. Label this line 'AC'. Carefully follow the instructions above, and only draw the required objects.
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