A firm has an average cost function A(q)=125q+q216−4. where q is the firm′s output. Determine the level of output for average costs are minimum. Hence determine the range of values for which average costs are decreasing. What part of the decreasing range is practically feasible? (iv) Write an equation for the total cost function. Hence calculate the level of output for which total costs are minimum.
A firm has an average cost function A(q)=125q+q216−4. where q is the firm′s output. Determine the level of output for average costs are minimum. Hence determine the range of values for which average costs are decreasing. What part of the decreasing range is practically feasible? (iv) Write an equation for the total cost function. Hence calculate the level of output for which total costs are minimum.
Chapter3: Functions
Section3.2: Domain And Range
Problem 61SE: The cost in dollars of making x items is given by the function Cx)=10x+500. a. The fixed cost is...
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A firm has an average cost function A(q)=125q+q216−4. where q is the firm′s output.
Determine the level of output for average costs are minimum.
Hence determine the range of values for which average costs are decreasing.
What part of the decreasing range is practically feasible? (iv) Write an equation for the total cost function.
Hence calculate the level of output for which total costs are minimum.
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