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125 b. A firm has an average cost function A(q) 4 where q is the firm' s output. 16 1. Determine the levelof output for average costs are minimum. 2. Hence determine the range of values for which average costs are decreasing. 3. What part of the decreasing range is practically feasible?

125 b. A firm has an average cost function A(q) 4 where q is the firm' s output. 16 1. Determine the levelof output for average costs are minimum. 2. Hence determine the range of values for which average costs are decreasing. 3. What part of the decreasing range is practically feasible?

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
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125 b. A firm has an average cost function A(q) 4 where q is the firm' s output. 16 1. Determine the levelof output for average costs are minimum. 2. Hence determine the range of values for which average costs are decreasing. 3. What part of the decreasing range is practically feasible? 4. Write an equation for the total cost function. (v) Hence calculate the level of output for which total costs are minimum.
Transcribed Image Text:125 b. A firm has an average cost function A(q) 4 where q is the firm' s output. 16 1. Determine the levelof output for average costs are minimum. 2. Hence determine the range of values for which average costs are decreasing. 3. What part of the decreasing range is practically feasible? 4. Write an equation for the total cost function. (v) Hence calculate the level of output for which total costs are minimum.
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