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Consider the cost function: C ( X ) = 0.004 X 3 + 20 X + 1000. (Show solutions.) A. Determine the AC and MC

Consider the cost function:C(X) = 0.004X³ + 20X + 1000. (Show solutions.)

A. Determine the AC and MC functions.

B. Determine the level ofQ where AC = MC.

C. Determine theQ that minimizes: (1)C(X); (2)AC(X); and (3) MC(X)

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