I only need help with the last three (b) A firm has an average cost function125, q?4.+-16A(q)%3Dwhere q is the firm's output.(i) Determine the level of output for average costs are minimum.(ii) Hence determine the range of values for which average costs are decreasing.(iii) What part of the decreasing range is practically feasible?(iv) Write an equation for the total cost function.(v) Hence calculate the level of output for which total costs are minimum.

The average (AC) cost function of the firm is, The first order condition is, The second order…

Answered: (iii) What part of the decreasing range…

(iii) What part of the decreasing range is practically feasible? (iv) Write an equation for the total cost function. (v) Hence calculate the level of output for which total costs are minimum.

Managerial Economics: A Problem Solving Approach

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ISBN:9781337106665

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Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter4: Extent (how Much) Decisions

Section: Chapter Questions

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Comparative Advantage and Absolute Advantage Analysis

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I only need help with the last three

(b) A firm has an average cost function
125, q?
4.
+-
16
A(q)
%3D
where q is the firm's output.
(i) Determine the level of output for average costs are minimum.
(ii) Hence determine the range of values for which average costs are decreasing.
(iii) What part of the decreasing range is practically feasible?
(iv) Write an equation for the total cost function.
(v) Hence calculate the level of output for which total costs are minimum.

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