63 105
Assignments Done
99%
Successfully Done
In July 2018

Answer to Question #38933 in Microeconomics for sarah

Question #38933
Given that the total cost function is

TC = 100Q – Q^2 + 1/3 Q^3

Where Q=rate of output and TC=Total Cost

A. Determine the marginal and average cost functions
B. Calculate the output level that minimizes average cost
C. Calculate the output level that minimizes marginal cost
Expert's answer

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be first!

Leave a comment

Ask Your question

Submit
Privacy policy Terms and Conditions