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

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

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