Economics · Cost Theory

If Marginal Cost (MC) = αq + βq2 - γq3, then the Average Cost (AC) is given by:

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1αq2 + βq23 - γq44 + AFC
2αq2 + βq23 - γq34 + AFC✓
3αq + βq2 - γq3
4αq2 + βq33 - γq44

Correct answer

αq2 + βq23 - γq34 + AFC

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If Marginal Cost (MC) = αq + βq2 - γq3, then the Average Cost (AC) is given by:

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If Marginal Cost (MC) = αq + βq2 - γq3, then the Average Cost (AC) is given by:

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