Cost functions: TC to MC, TC=FC+VC. Math with context.
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YouTubeMatt Birch
Cost functions: TC to MC, TC=FC+VC. Math with context.
This video starts with a total cost equation and then derives fixed and variable costs, and average variable, average fixed, and average total cost. Last, I use the total cost curve and the power rule to derive the marginal cost curve. This video is intended for an intermediate microeconomics course, but will be useful to introductory students ...
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