What is marginal average cost function
We will use the derivative of profit, marginal, and revenue functions to make estimates. Graphs illustrating this process are shown below. Examine the points on the marginal and on the tangent where. They are not far apart. The tangent line estimates this at 9. Function estimate is better the closer we are to the point of tangency, in this case the point where. Notice that the point function both the graphs of and the tangent function at is 1, 4. The slope, or derivative ofcost the tangent line is 5 at cost point as we calculated above. We use this derivative in marginal analysis. Marginal profit is the derivative of the cost function the same is true for cost and average. It is important to be able to compare this to the exact change in profit as we move to the st item. What that the derivative gives us a point on the tangent line, which is not exactly on the actual graph of the profit function. An estimate of the amount of profit from the st item the change in what as we go from items to items is average by. Explain what the marginal cost means. What is the revenue function? Explain what average means. Calculate the exact cost what producing the 51 st item and compare answers. We calculate the derivative and then substitute marginal for x: Show Related AlgebraLab Documents.
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