guest: Dear All,
Please help to check my answer below :
Question :
MC = Q/(6Q2-7)5
Determine the Total Cost if the Fixed Cost is $40
Answer :
TC = ∫ MC dQ YES
= ∫ Q/(6Q2-7)5 dQ YES
= ∫ Q/(7776Q10-45360Q8+105840Q6-123480Q4+72030Q2-16807) dQ NO
= ∫ Q/(706.91Q11-5040Q9+15120Q7-24696Q5+24010Q3-16807Q NO
I don't know the next step, please help me..
Thank you.
Sorry guest ( you really need a name )
This one is completely different from the last one because the complicated stuff is on the bottom. You can't separate them into individual terms so you have to look for hints on how else it could be done.
I'm trying to think how to explain it ummm.
TC = ∫ MC dQ
TC = ∫ Q/(6Q
2-7)
5 dQ
TC = ∫ Q(6Q
2-7)
-5 dQ
Do you understand what I just did? If i swap a term from one side of the fraction line to the other I have to change the power from + to - or vise versa.
Now, I have noticed that if I differentiate the stuff inside the bracket i get 12Q. (And Q is out the front of the bracket) This is the helpful fact that I am going to use.
That is: d/dQ [ 6Q
2-7 ] = 12Q
This means that the answer will have (6Q
2-7)
-5+1 = > (6Q
2-7)
-4 in it.
-------------------------------------------------------------------------------------------------------------------------------------------------------------
Now, other people may well have a more straight forward method than me but now I look at that last expression and see what happens if I differentiate it
d/dQ (6Q
2-7)
-4 = -4(6Q
2-7)
-4 )
-5 * 12Q
= -48Q(6Q
2-7)
-4 )
-5 so if I divide everything by -48 the answer will be what I want.
That is
d/dQ [1/-48](6Q
2-7)
-4 =[1/-48]* -4(6Q
2-7)
-4 )
-5 * 12Q
=[1/-48]* -48Q(6Q
2-7)
-4 )
-5 = Q(6Q
2-7)
-4 )
-5 This is exactly what you wanted.
Therefore
TC = ∫ Q(6Q
2-7)
-5 dQ
TC = [1/-48](6Q
2-7)
-4 + k (where k is a constant)
TC = [1/-48](6Q
2-7)
-4 + k
TC = - (6Q
2-7)
-4 / 48 + k
Now it is time to look at this statement
Determine the Total Cost if the Fixed Cost is $40
This means that if the quantity is 0 the Total cost will be $40
(You have to spend $40 before you start producing anything.)
Substitute TC=40, Q=0 to find k
40 = 0 + k
so k = 40
The answer is
TC = - [(6Q
2-7)
-4 / 48] + 40
I hope you understand