Question #38934

The demand for widgets (X) is given by:

Px = 160 – 4x

The production of widgets has the following average variable costs

AVC = 2x – 20

Fixed costs are 162.

Calculate the output level of widgets that

1: Maximizes total revenue

2: Minimizes the average total cost of widgets

3: Minimizes the total cost of widgets

4: Maximizes profits

Px = 160 – 4x

The production of widgets has the following average variable costs

AVC = 2x – 20

Fixed costs are 162.

Calculate the output level of widgets that

1: Maximizes total revenue

2: Minimizes the average total cost of widgets

3: Minimizes the total cost of widgets

4: Maximizes profits

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