Yennefer produces spells. Suppose q is the quantity of spells produced. Her Total Costs are given by TC(q)=101+q^2 and her Marginal Costs are given by MC(q)=2q. What is the quantity of spells that minimizes her Average Total Cost?

Yennefer produces spells. Suppose q is the quantity of spells produced. Her Total Costs are given by TC(q)=101+q^2 and her Marginal Costs are given by MC(q)=2q. What is the quantity of spells that minimizes her Average Total Cost?

Microeconomics: Principles & Policy

14th Edition

ISBN:9781337794992

Author:William J. Baumol, Alan S. Blinder, John L. Solow

Publisher:William J. Baumol, Alan S. Blinder, John L. Solow

Chapter19: Labor And Entrepreneurship: The Human Inputs

Section: Chapter Questions

Problem 6TY

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Definition Definition Total cost of producing a certain quantity of a good, divided by the quantity produced. It is the sum of all costs (fixed and variable) required to produce one unit of output.

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