Jim Whitney

Economics 102

 Deriving marginal and average values from total value curves  
Example: Total production costs in the short run (small number of units)
 

Quantity	Total  cost	Marginal  cost	Average  total  cost
0	196	---	---
1	321
2	410
3	475
4	528
5	581

6	646
7	735
8	860
9	1033
10	1266
Quantity	Total  cost	Marginal  cost	Average  total  cost