Cost-output relationships
Not what you're looking for?
For each of the following cost-output relationships, describe the shape (U-shape, decreasing, increasing, constant) of the average total cost and marginal cost functions
(C = total cost, Q = output):
(1) C = 42,500,000 + 2550Q
(2) C = 8.48 + 0.65Q + .00220Q2
Purchase this Solution
Solution Summary
Solution contains detailed step-by-step information on determining average total cost and marginal cost functions.
Purchase this Solution
Free BrainMass Quizzes
Basics of Economics
Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.
Economics, Basic Concepts, Demand-Supply-Equilibrium
The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.
Economic Issues and Concepts
This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.
Elementary Microeconomics
This quiz reviews the basic concept of supply and demand analysis.
Pricing Strategies
Discussion about various pricing techniques of profit-seeking firms.