At what output level is marginal cost minimized
Suppose that for the cubic total cost functions discussed in the text, a=0, b=4, c=-5/2, and d=5/3. At what output level is average total cost minimized? At what output level is average variable cost minimized? Marginal cost? Average fixed cost?
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At what output level is average total cost minimized? At what output level is average variable cost minimized? Marginal cost? Average fixed cost?
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