A firm has an average cost function 125 q2 A(q)= q +16−4. Write an equation for the total cost function. Hence calculate the level of output for which total costs are minimum.
A firm has an average cost function 125 q2 A(q)= q +16−4. Write an equation for the total cost function. Hence calculate the level of output for which total costs are minimum.
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter8: Functions
Section8.CR: Review Problem Set
Problem 50CR
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A firm has an average cost function
125 q2 A(q)= q +16−4.
Write an equation for the total cost function.
Hence calculate the level of output for which total costs are minimum.
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