The dijon companyrsquos total variable cost function, Business Economics

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The dijon companyrsquos total variable cost function

The Dijon Company’s total variable cost function is:

TVC = 50Q -10Q² + Q³

where Q is the number of units of output produced.

a. What is the output level where marginal cost is at minimum?

b. What is output level where average variable cost is a minimum?

c. What is the value of average variable cost and marginal cost at the output specified in the answer to part b?

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Business Economics: The dijon companyrsquos total variable cost function

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Business Economics: The dijon companyrsquos total variable cost function

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