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Given that the marginal cost MC and aver...

Given that the marginal cost MC and average cost AC of a product are directly proportional to each other. Prove that total cost function is `C(x)= kx^(lamda)` , where k is integration constant and 2 is variation constant.

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Knowledge Check

  • Given that the marginal cost MC and average cost AC for a product are equal. Then the total cost C is a (i) constant function (ii) linear function of number of units (x) produced (iii) quadratic function of number of units (x) produced (iv) None of these

    A
    constant function
    B
    linear function of number of units (x) produced
    C
    quadratic function of number of units (x) produced
    D
    None of these

  • If the total cost function is given by C(x) = 10x - 7x^(2) + 3x^(3) , then the marginal average cost

    A
    `10-14x+9x^(2)`
    B
    `10-7x+3x^(2)`
    C
    `-7+6x`
    D
    `-14+18x`

  • If the total cost function is given by C(x), where x is the quality of the output, then (d)/(dx)(AC) =

    A
    `(1)/(x)(AC - MC)`
    B
    `(d)/(dx) (MC)`
    C
    `(1)/(x^(2)) (MC - AC)`
    D
    None of these

    • Similar Questions

    Explore conceptually related problems

    The total cost function is given by C(x) = 2x^(3)-3.5x^(2) +x . Find the marginal average cost function.

    Find the slope of average cost curve for the total cost function C=ax^(3)+bx^(2)+cx +d.

    Find the marginal cost function (MC) if the total cost function is: C (x) = (x ^(3))/(3) + 5x ^(2) - 16 x + 2

    The marginal cost MC of a product is given to be a constant multiple of number of units (x) produced. Find the total cost function if the fixed cost is Rs. 1000 and the cost of producing 30 units is Rs. 2800.

    If C=ax^(2)+bx+c represents the total cost function, then slope of the marginal cost function is

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