Average cost minimization. TR= $3000Q - $0.5Q2 TC= $100,000 + $1,500Q + $0.1Q2 a. Calculate output, marginal
Question:
Average cost minimization.
TR= $3000Q - $0.5Q2
TC= $100,000 + $1,500Q + $0.1Q2
a. Calculate output, marginal cost, average cost, price, and profit at the average cost-minimizing activity level.
b. Calculate these values at the profit-maximizing activity level
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