00:01
Hello everyone.
00:02
So here we are given the linear cost functions value.
00:06
That is for q is equal to 0, our cq is given to be 5 ,000 and similarly for the other values.
00:16
We have to talk about fixed cost, marginal cost and the formula for cost function.
00:22
Now it is clear that the vertical intercept of the cost function is if we will plot.
00:34
Q on xx and cq on y xx is then for q is equal to 0 our c will be 5 ,000 that is the vertical intercept so we have at q is equal to 0 c is given to be 5 ,000 that is the vertical intercept so we can say that the fixed cost is this that that is this that is is 5 ,000.
01:12
Now for marginal cost, we will be finding the slope.
01:18
So for any two points, we have y1 minus y2 divided by x1 minus x2.
01:31
So let us take these two points where y1 is 5020 and x1 is 5, y2 is this and x2 is this.
01:42
So let us start by putting up the values.
01:45
We have 5 .20 minus 5 ,000 divided by 5 minus 0...