Given a total cost function: C= Q3 - 3Q2 + 8Q + 48 ,then find,

Question

a. TFC, TVC , b)AFC,AVC, AC c) MC, d)the minimum point of MC and the
minimum point of AVC e) Determine the level of output for which MC=AVC?

Answer 1

Using the more usual notation,
c(q) = q^3 - 3q^2 + 8q + 48
as I understand it,
TFC = c(0)
TVC = c(q)-c(0)
AFC = TFC/q
AVC = TVC/q
AC = c(q)/q
MC = dc/dq
use derivatives to find minima

Answer 2

answer

Answer 3

use derivatives to find minima