Course talk:MATH110/003/Teams/Schwytz

Presentations

Good job in providing a readable and well organized work! But can you put your homework onto a subpage? If you don't know how, check the wiki help page! Also, a step forward would be to use section headers rather than bold text so that the reader can navigate easier.

Math Contents

In the question it stated that 20 flags would cost 100. Indeed the average cost is 5, but the MARGINAL cost is still 7. So perhaps you did not understand the question very well. Can you write out the equation for the average cost? i.e. write out for your models

$average={\frac {\Delta y}{\Delta x}}$

and show your calculation. This can serve both as a check for your models and more direct visual aid for your readers to understand these models.

We are asking for the average cost as production levels rise to some arbitrarily large number. Can you use the formula $average={\frac {\Delta y}{\Delta x}}$ to calculate the average cost?

Good job in providing all the different kinds of models! A step forward in the future would be to try to prove the trend of the marginal cost using algebraic math. For example for a linear problem where $y(x)=mx+b$, using the average formula $average={\frac {\Delta y}{\Delta x}}$ , we can get $average={\frac {m*\Delta x+b}{\Delta x}}$, then see what happens with large $\Delta x$.

Can you think of any other model that doesn't just simply have increasing/decreasing/constant marginal cost?