Suppose a firm's cost function is C (q) = 2q2 + 8. The output q that minimizes average total cost is: (Hint: At the minimum of the ATC, ATC is equal to MC) a)4 b) 2 c) 0 d) 8
Suppose a firm's cost function is C (q) = 2q2 + 8. The output q that minimizes average total cost is: (Hint: At the minimum of the ATC, ATC is equal to MC) a)4 b) 2 c) 0 d) 8
Chapter7: Proudction Costs
Section: Chapter Questions
Problem 21SQ
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Question
Suppose a firm's cost function is C (q) = 2q2 + 8.
The output q that minimizes
a)4
b) 2
c) 0
d) 8
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