A firms total cost curve is TC = Q 3 60Q 2 + 910Q + 150.

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A firm’s total cost curve is TC = Q3 – 60Q2 + 910Q + 150. Its marginal cost is 3Q2 – 120Q + 910. 

a. Find the firm’s fixed cost, variable cost, average total cost, and average variable cost.

b. Find the output level at which average variable cost is minimized.

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Related Book For  book-img-for-question

Microeconomics

ISBN: 9781319105563

3rd Edition

Authors: Austan Goolsbee, Steven Levitt, Chad Syverson

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