Consider an industry with identical firms. Suppose the cost function of firm i, i=1,...,n, is given by C₁ (9₁) = 6 q² + 91 What is the minimum value of the individual firm's average cost? (As usual, you must enter a number below, not a ratio, not an expression with symbols..., just a number. Don't roun even if rounding makes sense.
Consider an industry with identical firms. Suppose the cost function of firm i, i=1,...,n, is given by C₁ (9₁) = 6 q² + 91 What is the minimum value of the individual firm's average cost? (As usual, you must enter a number below, not a ratio, not an expression with symbols..., just a number. Don't roun even if rounding makes sense.
Chapter1: Making Economics Decisions
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
Transcribed Image Text:Consider an industry with identical firms. Suppose the cost function of firm i, i=1,...,n, is given by
2
Ci(q) = 6 q₁² + 91
What is the minimum value of the individual firm's average cost?
(As usual, you must enter a number below, not a ratio, not an expression with symbols..., just a number. Don't round,
even if rounding makes sense...)
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