14. The total cost for the production of a commodity is given by TC = 100+ 1.3q where q is the amount produced. Let AC denote the average cost per unit for an output of q units. a. Find limq→+∞ AC. b. Give a graphical interpretation of your answer to subquestion a. c. Express your result in plain words.

14. The total cost for the production of a commodity is given by TC = 100+ 1.3q where q is the amount produced. Let AC denote the average cost per unit for an output of q units. a. Find limq→+∞ AC. b. Give a graphical interpretation of your answer to subquestion a. c. Express your result in plain words.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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