The cost of producing q units of a good is C(q) = 0.1q 2 + 1000 million

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The cost of producing q units of a good is C(q) = 0.1q² + 1000 million dollars.
(a) What are the fixed costs? The marginal cost? The average cost?
(b) At what production level does the average cost have a critical point?
(c) Is the critical point a local maximum or a local minimum or neither?

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Applied Calculus

ISBN: 9781119275565

6th Edition

Authors: Deborah Hughes Hallett, Patti Frazer Lock, Andrew M. Gleason, Daniel E. Flath, Sheldon P. Gordon, David O. Lomen, David Lovelock, William G. McCallum, Brad G. Osgood, Andrew Pasquale

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Question Posted: Apr 15, 2023 02:01 AM

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The cost of producing q units of a good is C(q) = 0.1q 2 + 1000 million

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For Cq 01q 2 1000 million dollars a Fixed costs 1000 million dolla...View the full answer

Applied Calculus

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