For each cost function (given in dollars), find. (a) The cost, average cost, and marginal cost at

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For each cost function (given in dollars), find.
(a) The cost, average cost, and marginal cost at a production level of 1000 units;
(b) The production level that will minimize the average cost; and
(c) The minimum average cost.

5. C(x) = 40,000 + 300x + x 6. C(x) 25.000 + 120x + 0.1x 7. C(x) 16,000 + 200x + 4x 10,000 + 340x - 0.3x %3! + 0.0001x 8

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Intermediate Microeconomics and Its Application

ISBN: 978-1133189039

12th edition

Authors: Walter Nicholson, Christopher M. Snyder

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Question Posted: Jun 30, 2010 04:33 AM

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For each cost function (given in dollars), find. (a) The cost, average cost, and marginal cost at

Question:

5. C(x) = 40,000 + 300x + x 6. C(x) 25.000 + 120x + 0.1x 7. C(x) 16,000 + 200x + 4x 10,000 + 340x - 0.3x %3! + 0.0001x 8. C(x)

Step by Step Answer:

5 a The cost function is Cz 40000 300x x so the cost at a production level of 1000 is Cx 40000 C1000 ...View the full answer

Intermediate Microeconomics and Its Application

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