You are given the following cost function: Cost equals 0.2 q cubed minus 6 q squared plus
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Question:
You are given the following cost function:
Cost equals 0.2 q cubed minus 6 q squared plus 80 q plus 150 Cost = 0.2q 3 ? 6 q 2 + 80 q +150.
Marginal cost is:
0.6 q squared minus 12 q plus 80 0.6q 2 ? 12 q + 80
The value of the average cost when output = 10 units is_____$
The value of the marginal cost when output = 10 units is_____$
The output level where average variable cost equals marginal cost is_____$
Related Book For
Managerial Economics
ISBN: 978-0133020267
7th edition
Authors: Paul Keat, Philip K Young, Steve Erfle
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