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Math Help - business maths

  1. #1
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    kathmandu
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    business maths

    if is a cost function. Find the average cost function. At what level of production q, is there a minimum average cost?


    how do i calculate this? I have got no idea
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  2. #2
    MHF Contributor

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    Re: business maths

    The "average value" of a continuous function, between x= a and x= b, is given by \frac{\int_a^b f(t)dt}{b- a}. To find the average cost, use "x" rather than b as upper bound: \frac{\int_a^x f(t)dt}{x- a}. Of course, to find the max or min of a function you set the derivative equal to 0.
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  3. #3
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    kathmandu
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    Re: business maths

    thank you
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