Answer to Question #38934 in Microeconomics for ash

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
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Expert's answer
2014-02-07T11:03:52-0500
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