Please give me correct answer with calculation otherwise i give multiple downvoteNote:-Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.Answer completely and accurate answer.Rest assured, you will receive an upvote if the answer is accurate. Consider the following table which describes how a firm uses variable labour input to produce output in the short-run. Suppose each worker ispaid $32 and each piece of capital is rented for $80. The firms is currently using 7 units of capital.Lq0012211329455589613271898254932710413114561247213483Part (a): What level of output should the firm produce at if their goal is to minimize their average variable cost?Part (b): Which level of output should the firm produce at if their goal is to minimize their marginal cost?Part (c): What level of output should the firm produce at if their goal is to minimize their average total cost?

The labor and the quantity produced are given below.…

Answered: Consider the following table which…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Please give me correct answer with calculation otherwise i give multiple downvote

Note:-

Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.

Answer completely and accurate answer.

Rest assured, you will receive an upvote if the answer is accurate.

Consider the following table which describes how a firm uses variable labour input to produce output in the short-run. Suppose each worker is
paid $32 and each piece of capital is rented for $80. The firms is currently using 7 units of capital.
L
q
0
0
1
2
2
11
3
29
4
55
5
89
6
132
7
189
8
254
9
327
10
413
11
456
12
472
13
483
Part (a): What level of output should the firm produce at if their goal is to minimize their average variable cost?
Part (b): Which level of output should the firm produce at if their goal is to minimize their marginal cost?
Part (c): What level of output should the firm produce at if their goal is to minimize their average total cost?

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