Question

Give the formulas for and plot AFC, MC, AVC and AC if the cost function is

it is the thing that I got the result from Chegg, Can u explain me why C = 10+10q-4q^2+2^3 became C = 10 + 10Q - 2Q^2 + Q^3 ?

and if not can u give me the right formulas for plot AFC,MC, AVC and AC

c. C = 10 + 10q-4q^2+q^3

c.
C = 10 + 10Q - 2Q^2 + Q^3
FC = 10
AFC = 10/Q
MC = 10 - 4Q + 3Q^2
AVC = 10 - 2Q + Q^2
AC = 10/Q + 10 - 2Q + Q^2

Answer 1

In the solution you received, it seem that the 'q' is just interchangebly used as 'Q' and the solution is presented.
A proper solution has been made providing the formulas for plotting according to your question

Given, Cost function C= 10+10q-4q²+q³

The formulas for plotting are as such:

Now, the Fixed Cost (FC=10) is the part of C do not depend upon q

.'. Average Fixed Cost = AFC=

AFC = 10/q

Marginal Cost= MC= dC/dq

=

MC = 10- 8q+3q²

Average Variable Cost= AVC= Variable Cost(VC)/q

The Variable Cost is that part of C that depends on q.

Hence, VC= 10q-4q²+q³

.'. AVC= VC/q =

AVC = 10q-4q+q²

Average Cost (AC)= Total Cost (C) / q

=

AC =