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Determine the average cost and revenue

Cost Function : Average Cost, Revenue and Profit - Maximum or Minimum

Response to the following question:

Given the cost function C(q) = 4000 + 50q + 0.002q2 and the demand function p = 80 - 0.025q, find the value of q for which:

(a) Average cost is a minimum.

(b) Revenue is a maximum.

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Engineering Mathematics: Determine the average cost and revenue

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Engineering Mathematics: Determine the average cost and revenue

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