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Value of average variable cost and marginal cost

Problem: The Dijon Company's total variable cost function is:

TVC = 50Q -10Q^2 + Q^3

where Q is the number of units of output produced.

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

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

3. What is the value of average variable cost and marginal cost at the output specified in the answer to part 2?

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Solution Preview :

Prepared by a verified Expert

Managerial Economics: Value of average variable cost and marginal cost

Reference No:- TGS01751416

Have a Question? (oR Write a Review)

Recent Questions Asked Managerial Economics

Q : Firms marginal-average and average variable cost curves

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Solution Preview :

Prepared by a verified Expert

Managerial Economics: Value of average variable cost and marginal cost

Reference No:- TGS01751416

Recent Questions Asked Managerial Economics

Q : Firms marginal-average and average variable cost curves

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