Answer to Question #38934 in Microeconomics for ash

Question #38934
The demand for widgets (X) is given by:

Px = 160 – 4x

The production of widgets has the following average variable costs

AVC = 2x – 20

Fixed costs are 162.

Calculate the output level of widgets that

1: Maximizes total revenue
2: Minimizes the average total cost of widgets
3: Minimizes the total cost of widgets
4: Maximizes profits
1
Expert's answer
2014-02-07T11:03:52-0500
The answer to the question is available in the PDF file https://www.assignmentexpert.com/https://www.assignmentexpert.com/homework-answers/economics-answer-38934.pdf

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!

Leave a comment

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS