A firm has two plants that produce identical output. The cost functions are C, = 388q - 14q+1.0g° %D and 2. C, = 388q - 20q + 0,5g. %3D At what output level does the average cost curve of each plant reach its minimum? The first plant reaches minimum average cost at units of output. (Enter a numeric response using an integer.) Enter your answer in the answer box and then click Check Answer. 2 parts remaining Clear All Check An search

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A:

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A: Average Cost (AC) function is given as:

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A: Since you have asked for the solution of B and C only. So, I am answering only B and C.

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A: So  FC=$6 VC=7×$10       =$70

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Q: A factory that you are managing has an hourly production process that can be represented by the…

A: Answer -

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Q: You are given the following long-run cost function: TC = 200Q - 25Q2 + 1.5Q3 What level of Q will…

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Q: Consider the following cost function: C(q) = 100+10q+q² (i) What are the formulas for the Total…

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Q: The short-run cost function of a company is given by the equation TC = 200 + 55q, where TC is the…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: Use the table below to answer the following question. Units Total Fixed Cost Total Variable of…

A: In the short run, a firm will have two types of cost: fixed cost and variable cost. Total fixed cost…

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A:

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A: Answer: (b) The firm experiences falling average fixed costs, but rising average variable costs.

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