Consider a General Cost Function C(q),with Average Cost=C(q)/q

question 68

Essay

Consider a general cost function C(q),with Average Cost=C(q)/q.Prove using calculus that the quantity which minimizes the Average Cost function is also at the point where the Marginal Cost equals the Average Cost.To do this,first derive the necessary condition for the AC to be at a minimum.

---

Definitions:

Metallic Minerals

Natural mineral formations containing sufficient metal to be beneficially extracted and technically feasible to mine.

Microorganisms

Tiny living organisms, such as bacteria, viruses, and fungi, that can only be seen under a microscope.

Mining

Mining is the extraction of valuable minerals or other geological materials from the Earth, usually from an orebody, lode, vein, seam, reef, or placer deposit.

Air Pollution

Contamination of the air by harmful substances including gases, particulates, and biological molecules, often resulting from human activities.