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    SLIDENER's Avatar
    SLIDENER Posts: 1, Reputation: 1
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    #1

    Jul 17, 2012, 08:04 AM
    Fixed cost are $60 and var.cost is $4 a unit is the cost function be c=60+4q
    Fixed cost are $60 and var.cost is $4 a unit is the cost function be c=60+4q
    ArcSine's Avatar
    ArcSine Posts: 969, Reputation: 106
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    #2

    Jul 17, 2012, 12:40 PM
    Correct, although you'll want to call it the total cost function, to distinguish from the two other common cost functions, average and marginal.
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