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Math Help - Total cost ??

  1. #1
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    Total cost ??

    The average cost per item to produce q items is given by a(q) = 0.5q2 2q + 3 for q > 0. What is the total cost C(q) for producing q items? What is the MC of producing q items? At what production level does MC = average cost? What is the significance of this point?
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  2. #2
    Grand Panjandrum
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    Quote Originally Posted by ab32 View Post
    The average cost per item to produce q items is given by a(q) = 0.5q2 2q + 3 for q > 0. What is the total cost C(q) for producing q items? What is the MC of producing q items? At what production level does MC = average cost? What is the significance of this point?
    C(q)=q a(q)

    MC(q)=\frac{dC}{dq}

    The point at which the marginal cost equals the average cost is the point beyond which each additional unit increases the average cost of production (at least if the average cost drops with each additional unit initially).

    CB
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