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Smelling of Tulips, Inc., a perfume company, esuitdied its suvit-un costs using a V-slapeu average variable cost function of the form AVC =a+ bQ +
Smelling of Tulips, Inc., a perfume company, esuitdied its suvit-un costs using a V-slapeu average variable cost function of the form AVC =a+ bQ + cQ- and obtained the following results. Total fixed cost (IFC) at S.T. Inc. is $810. Adjusted R. Square 0.945 Coefficient Standard S Error t Stat P-value Intercept 32.90 2.13 15.46 0.0042 Q -3.81 0.47 -8.16 0.0000 Q 2 0.25 0.02 11.58 0.0000 a. What level of output (Q) is associated with the minimum AVC? What is the value of AVC at this minimum
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