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Unformatted text preview: The curve above is your cost function > C(q). Please recall that it is the TOTAL cost of q it produced. The x-axis represents q the number of items produced, while C, the cost of those items is represented by the y-axis. The coordinates of any point on that line are therefore (q,C(q)). n below. m = C ( q )- q- Note that this is equal to a(q). = C ( q ) q (Press any key or click mouse to continue) To find a(q), the average cost at any time, we merely divide that tota...
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This note was uploaded on 06/15/2011 for the course MATH 122 taught by Professor Kustin during the Spring '08 term at South Carolina.
- Spring '08