The graph of a cost function C is given.
(a) Draw a careful sketch of the marginal cost function.
(b) Use the geometric interpretation of the average cost c(x) as a slope (see Figure 1) to draw a careful sketch of the average cost function.
(c) Estimate the value of for which c(x) is a minimum. How are the average cost and the marginal cost related at that value of x?

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CA 400 200- 6.