Total Posts:3|Showing Posts:1-3 Posts: 2 Add as FriendChallenge to a DebateSend a Message 10/6/2016 2:16:23 AMPosted: 3 years agoI have this exercise: TC ( total costs ) of a firm in a perfect competitive market are C(q)= q.q+2q+16. Market price is 8. What are marginal cost, average fixed cost, average variable cost , average total cost ? Is it possible how exactly to solve this ? Posts: 2 Add as FriendChallenge to a DebateSend a Message 10/6/2016 2:25:44 AMPosted: 3 years agoIs it possible someone to explain me how exactly to solve it ? Posts: 63 Add as FriendChallenge to a DebateSend a Message 10/6/2016 4:01:36 AMPosted: 3 years agoAt 10/6/2016 2:16:23 AM, ChrisM wrote:I have this exercise: TC ( total costs ) of a firm in a perfect competitive market are C(q)= q.q+2q+16. Market price is 8. What are marginal cost, average fixed cost, average variable cost , average total cost ? Is it possible how exactly to solve this ?This is pretty easy if you look at the definitions of marginal cost, average fixed cost, average variable cost and average total cost. All of these costs are in units of currency per unit.Marginal cost is the derivative of total cost with respect to q.Average total cost is the total cost divided by q.Average variable cost is the integral of marginal cost from 0 to q divided by q.Average fixed cost is average total cost minus average fixed cost. 