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.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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