The long-run cost function for a firm in the personal computer business is: C(q) = 8g²+7200 for q> 0. What is the average cost function AC (q)? AC (q) = 16q AC(q) =8q+7200
The long-run cost function for a firm in the personal computer business is: C(q) = 8g²+7200 for q> 0. What is the average cost function AC (q)? AC (q) = 16q AC(q) =8q+7200
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter9: Applications Of Cost Theory
Section: Chapter Questions
Problem 3E
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Question
![The long-run cost function for a firm in the personal computer business is: C(q) = 8q² + 7200,
for q> 0.
What is the average cost function AC (g)?
AC (q) = 16q
AC (q) = 8q+
7200
9
AC (q) = 16q+
AC (g) 16q+7200
AC(q) = 8q+7200
=
7200
9
The long-run cost function for a firm in the personal computer business is: C(q) = 8q² + 7200.
for q> 0.
What is the marginal cost function MC (q)?
MC(q) = 8q+7200
MC(q) = 8q
MC (g)
MC (q) = 16q
MC (q) = 16q+
16q+72000
7200
The long-run cost function for a firm in the personal computer business is:
C(q) = 8q²+7200, for q> 0.
At what level of output does average cost equal marginal cost?
The level of output at which average cost and marginal cost are equal is
type your answer...
-01](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc3121cb4-2275-4f2b-9e9f-e03bd3cfe551%2Ff2026874-8803-4e33-831c-b11aee52ef99%2Fjruxai_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The long-run cost function for a firm in the personal computer business is: C(q) = 8q² + 7200,
for q> 0.
What is the average cost function AC (g)?
AC (q) = 16q
AC (q) = 8q+
7200
9
AC (q) = 16q+
AC (g) 16q+7200
AC(q) = 8q+7200
=
7200
9
The long-run cost function for a firm in the personal computer business is: C(q) = 8q² + 7200.
for q> 0.
What is the marginal cost function MC (q)?
MC(q) = 8q+7200
MC(q) = 8q
MC (g)
MC (q) = 16q
MC (q) = 16q+
16q+72000
7200
The long-run cost function for a firm in the personal computer business is:
C(q) = 8q²+7200, for q> 0.
At what level of output does average cost equal marginal cost?
The level of output at which average cost and marginal cost are equal is
type your answer...
-01
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