Determination of Cost Function
Determination of Cost Function: Overview
In this topic, we will learn how to determine the cost function and average cost function related to the number of units produced. Furthermore, we will discuss some benefits of determining these functions.
Important Questions on Determination of Cost Function
The marginal cost function , find average cost function, when .

The monthly marginal cost for a product is . If fixed cost is rupees, find the total cost function for the month.

The marginal cost function , find average cost function, when .

The marginal cost function , find .

The marginal cost function of manufacturing shoes is . The cost producing a pair of shoes is rupees. Find the total and average cost function.

A company produces a commodity with ₹24000 fixed cost. The variable cost is estimated to be 25% of the total revenue recovered on selling the product at a rate of ₹8 per unit. Find the break even point.

For a new product, a manufacturer spends on the infrastructure and the variable cost is estimated as per unit of the product. The sale price per unit was fixed at .
Find break even point of the function.

A manufacturer can sell items of commodity at a price of each. Find the revenue function along with the cost of producing items is , determine the profit function.

A company sells its products at the rate of per unit. The variable costs are estimated to run of the total revenue received. If the fixed costs for the product are , find the total cost function.

The marginal cost of product is given by and the fixed cost is Rs. Find the total cost function.

The marginal cost (MC) of a product is given to be a constant multiple of the number of units produced .Find the total cost function, if fixed cost is and the cost of producing units is .

The monthly marginal cost for a product is . If fixed cost is rupees, find the total cost function for the month.

The marginal cost function of producing x units of a product is given by . If the fixed cost is Rs. find the total cost function. Also find the cost of production of units.
