Find the marginal-cost function if the average-cost function is... | Filo

If the total cost function is given by C=x 2x3-72x2, find the Marginal Average Cost function (MAC). - Mathematics | Shaalaa.com

SOLVED:Suppose that a firm has a marginal cost function given by M C(q)=q 1 a. What is this firm's total cost function? Explain why total costs are known only up to a constant of integration, which represents fixed costs. b. As you may know from an earlier economics course, if a firm takes price (p) as given in its decisions, then it will produce that output for which p=M C(q). If the firm follows this profit-maximizing rule, how much will it produce when p=15 ? Assuming that the firm is just br