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A firm has determined that its variable costs are given
A firm has determined that its variable costs are given
1. A firm has determined that its variable costs are given by the following relationship:
VC = .05Q3ï€Â5Q2 + 500Q
where Q is the quantity of output produced.
(a) Determine the output level where average variable costs are minimized.
(b) Determine the output level where marginal costs are minimized.
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23 Apr 2016
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A firm has determined that its variable costs are given
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