The long-run cost function for a firm in the personal computer business is: C(q) = 8q² + 7200,for q> 0.What is the average cost function AC (g)?AC (q) = 16qAC (q) = 8q+72009AC (q) = 16q+AC (g) 16q+7200AC(q) = 8q+7200=72009The long-run cost function for a firm in the personal computer business is: C(q) = 8q² + 7200.for q> 0.What is the marginal cost function MC (q)?MC(q) = 8q+7200MC(q) = 8qMC (g)MC (q) = 16qMC (q) = 16q+16q+720007200The long-run cost function for a firm in the personal computer business is:C(q) = 8q²+7200, for q> 0.At what level of output does average cost equal marginal cost?The level of output at which average cost and marginal cost are equal istype your answer...-01

Marginal cost measures the change in cost due to a change in quantity produced. The average cost is…

Answered: The long-run cost function for a firm…

The long-run cost function for a firm in the personal computer business is: C(q) = 8g²+7200 for q> 0. What is the average cost function AC (q)? AC (q) = 16q AC(q) =8q+7200

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter9: Applications Of Cost Theory

Section: Chapter Questions

Problem 3E

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Question

The long-run cost function for a firm in the personal computer business is: C(q) = 8q² + 7200,
for q> 0.
What is the average cost function AC (g)?
AC (q) = 16q
AC (q) = 8q+
7200
9
AC (q) = 16q+
AC (g) 16q+7200
AC(q) = 8q+7200
=
7200
9
The long-run cost function for a firm in the personal computer business is: C(q) = 8q² + 7200.
for q> 0.
What is the marginal cost function MC (q)?
MC(q) = 8q+7200
MC(q) = 8q
MC (g)
MC (q) = 16q
MC (q) = 16q+
16q+72000
7200
The long-run cost function for a firm in the personal computer business is:
C(q) = 8q²+7200, for q> 0.
At what level of output does average cost equal marginal cost?
The level of output at which average cost and marginal cost are equal is
type your answer...
-01

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