Академический Документы
Профессиональный Документы
Культура Документы
300
revenue(TR)
200
total
TR
100
0
0 2 4 6 8
output (Q)
Total, Average, and Marginal Costs
of a firm
Q TC AC MC
0 $20 - -
2 160 80 20
3 180 60 20
4 240 60 60
Optimization with calculus
• Determining a Maximum or a Minimum by
calculus
• Optimization often requires finding the
maximum or the minimum value of a
function. For example, a firm might want to
maximize its revenue, minimize the cost of
producing a given output, or, more likely,
maximize its profits.
Multivariate Optimization