1. 9 March 2004ECON 130 (003) Spring 20041 University of Hawai‘i at Mānoa Department of Economics ECON 130 (003): Principles of Economics (Micro) http://www2.hawaii.edu/~lindoj Gerard Russo Lecture #17 Tuesday, March 9, 2004

2. 9 March 2004ECON 130 (003) Spring 20042 ANNOUNCEMENTS REVIEW SESSION Thursday, March 18, 2004, 4:30-5:30 PM BIL 152 MID-TERM EXAMINATION #2 Tuesday, March 30, 2004, 12:00-1:15 PM BIL 152

3. 9 March 2004ECON 130 (003) Spring 20043 Cost Curves: Homework

4. 9 March 2004ECON 130 (003) Spring 20044 Total Cost = 10*Q Total Fixed Cost = Total Variable Cost = Average Total Cost = Average Fixed Cost = Average Variable Cost = Marginal Cost =

5. 9 March 2004ECON 130 (003) Spring 20045 Total Cost = 10*Q Total Fixed Cost = 0 Total Variable Cost = 10*Q Average Total Cost = 10 Average Fixed Cost = 0 Average Variable Cost = 10 Marginal Cost = 10

6. 9 March 2004ECON 130 (003) Spring 20046 Total Cost = 100 + 10*Q Total Fixed Cost = Total Variable Cost = Average Total Cost = Average Fixed Cost = Average Variable Cost = Marginal Cost =

7. 9 March 2004ECON 130 (003) Spring 20047 Total Cost = 100 + 10*Q Total Fixed Cost = 100 Total Variable Cost = 10*Q Average Total Cost =100/Q + 10 Average Fixed Cost =100/Q Average Variable Cost =10 Marginal Cost =10

8. 9 March 2004ECON 130 (003) Spring 20048 Total Cost = 100 + 10*Q + Q 2 Total Fixed Cost = Total Variable Cost = Average Total Cost = Average Fixed Cost = Average Variable Cost = Marginal Cost =

9. 9 March 2004ECON 130 (003) Spring 20049 Total Cost = 100 + 10*Q + Q 2 Total Fixed Cost = 100 Total Variable Cost = 10*Q + Q 2 Average Total Cost = 100/Q + 10 + Q Average Fixed Cost = 100/Q Average Variable Cost = 10 + Q Marginal Cost = 10 + 2*Q

10. 9 March 2004ECON 130 (003) Spring 200410 Total Cost = 60*Q – 12*Q 2 + Q 3 Total Fixed Cost = Total Variable Cost = Average Total Cost = Average Fixed Cost = Average Variable Cost = Marginal Cost =

11. 9 March 2004ECON 130 (003) Spring 200411 Total Cost = 60*Q – 12*Q 2 + Q 3 Total Fixed Cost = 0 Total Variable Cost = 60*Q – 12*Q 2 + Q 3 Average Total Cost = 60 – 12*Q + Q 2 Average Fixed Cost = 0 Average Variable Cost = 60 – 12*Q + Q 2 Marginal Cost = 60 – 24*Q + 3*Q 2

12. 9 March 2004ECON 130 (003) Spring 200412 TC = 75 + 14*Q – 6*Q 2 + Q 3 Total Fixed Cost = Total Variable Cost = Average Total Cost = Average Fixed Cost = Average Variable Cost = Marginal Cost =

13. 9 March 2004ECON 130 (003) Spring 200413 TC = 75 + 14*Q – 6*Q 2 + Q 3 Total Fixed Cost = 75 Total Variable Cost = 14*Q – 6*Q 2 + Q 3 Average Total Cost = 75/Q + 14 – 6*Q + Q 2 Average Fixed Cost = 75/Q Average Variable Cost = 14 – 6*Q + Q 2 Marginal Cost = 14 – 12*Q + 3*Q 2

14. 9 March 2004ECON 130 (003) Spring 200414 TC = 50 + 111*Q – 7*Q 2 + (1/3)*Q 3 Total Fixed Cost = Total Variable Cost = Average Total Cost = Average Fixed Cost = Average Variable Cost = Marginal Cost =

15. 9 March 2004ECON 130 (003) Spring 200415 TC = 50 + 111*Q – 7*Q 2 + (1/3)*Q 3 Total Fixed Cost = 50 Total Variable Cost = 111*Q – 7*Q 2 + (1/3)*Q 3 Average Total Cost = 50/Q + 111 – 7*Q + (1/3)*Q 2 Average Fixed Cost = 50/Q Average Variable Cost = 111 – 7*Q + (1/3)*Q 2 Marginal Cost = 111 – 14*Q + Q 2