hello, I need second subpart of 3rd of my question. A) part already answered. I need only B) part. 3. For the technologies y =minX, , 4x, } and y=+x, compute:4a) the total cost and the cost of production of 1 unit of output,b) the marginal and average cost.Assume that prices of inputs are (4, 6).

Marginal cost (MC) is the addition to the total cost by producing one more unit of output. Average…

1 3. For the technologies y=min{*,4.x, } and y=+x, compute: 4 a) the total cost and the cost of production of 1 unit of output, b) the marginal and average cost. Assume that prices of inputs are (4, 6).

1 3. For the technologies y=min{*,4.x, } and y=+x, compute: 4 a) the total cost and the cost of production of 1 unit of output, b) the marginal and average cost. Assume that prices of inputs are (4, 6).

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter21: Production And Costs

Section: Chapter Questions

Problem 11QP

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