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).

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

hello, I need second subpart of 3rd of my question. A) part already answered. I need only B) part.

3. For the technologies y =
min
X, , 4x, } 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).

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