To ascertain the marginal cost we take the first derivative of the total variable cost function with respect to productivity O.
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To determine the average total cost and average variable cost, we divide the respective total costs by the output level. It is also supportive to know at what level of productivity average variable cost takes on its minimum value. To ascertain the level of output at which average variable cost is minimum we have to consider first derivative of the average variable cost AVC function and set this derivative equal to null.
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To find the productivity level at which MC is minimum, we have to set the first derivative of MC function equal to null. The first derivative of MC function is.
Economic interpretation of calculus operations - univariate
Joined Feb 16, Messages 5. Find the marginal average cost function. Joined Oct 6, Messages 10, I do not arrive at either of your posted candidates for the definition of the Marginal Average Cost function. Warning: I have not taken any financial-math courses.
Use charts, linear equations, and nonlinear equations to determine costs
I believe that the word "marginal" can be replaced with the phrase "derivative of the". For example, "marginal cost function" means "the derivative of the cost function". Likewise, "marginal average cost function" means "the derivative of the average cost function.
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