Show working A firm's total short-run cost function is C(y) = 5y- 12y +110y +9.What is the average variable cost?Select one:O a. AVC = 15y-24y+ 110O b. None of the aboveOc AVC-5y2-12y+110yO d. AVC - 5y²-12y + 110Clear my choiceIf pMP, > w, and you want to increase profits, should you increase, decrease or maintain the level of factor 17Select one:O a. IncreaseO b. DecreaseO. Maintain

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A firm's total short-run cost function is C(1)) 5y-12y + 110y +9. %3D What is the average variable cost? Select one Oa AVC-15y-24y+110 Ob. None of the above O. AVC- 5y2- 12y + 110y O d. AVC 5y2- 12y + 110 Clear my choice If pMP,> w, and you want to increase profits, should you increase, decrease or maintain the level of factor 1? Select one: O a. Increase Ob. Decrease O. Maintain

A firm's total short-run cost function is C(1)) 5y-12y + 110y +9. %3D What is the average variable cost? Select one Oa AVC-15y-24y+110 Ob. None of the above O. AVC- 5y2- 12y + 110y O d. AVC 5y2- 12y + 110 Clear my choice If pMP,> w, and you want to increase profits, should you increase, decrease or maintain the level of factor 1? Select one: O a. Increase Ob. Decrease O. Maintain

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter13: The Cost Of Production

Section: Chapter Questions

Problem 6PA

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Costs per unit (dollars) 50 40 30 20 10 0 I 500 SRATC SRATC SRATC 1.000 1,500 2,000 Quantity of output (units per week) LRAC Given the short-run average total cost curves in Exhibit 7-15, what level of output per week minimizes average total cost? O a. 2,000 units O b. 1,500 units O c. 500 units O d. 1,000 units