ECON 4015 - Problem Solving1. Based on a consulting economist's report, the TotalCost for a company named Advanced Electronicsis as follows:TC 200 +5Q -0.04Q² + 0.001Q³Find the level of output that results in minimum AverageVariable Cost for the company. & how much is theminimum AVC at that rate of output?2. If TC = 1000 + 200Q-9Q² +0.25Q³, whatoutput rate minimizes Average Variable Cost &how much is the minimum AVC at that rate ofoutput?3. Given the Total Cost function as follows:TC = 100Q-3Q² + 0.1Q³What rate of output will minimize AverageTotal Cost & how much is the minimum ATCat that rate of output?4. Given the Total Cost function as follows:TC= 200-2Q +0.05Q²What rate of output will minimize AverageTotal Cost & how much is the minimum ATCat that rate of output?PjCSeptember 24, 2022

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1. Based on a consulting economist's report, the Total Cost for a company named Advanced Electronics is as follows: TC = 200 +5Q -0.04Q2 +0.001Q³ Find the level of output that results in minimum Average Variable Cost for the company. & how much is the minimum AVC at that rate of output?

1. Based on a consulting economist's report, the Total Cost for a company named Advanced Electronics is as follows: TC = 200 +5Q -0.04Q2 +0.001Q³ Find the level of output that results in minimum Average Variable Cost for the company. & how much is the minimum AVC at that rate of output?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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