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Answer to Question #38995 in Microeconomics for sarah

Question #38995
Given that the total cost function is:
TC = 100Q – Q^2 + 1/3Q^3
Where Q = rate of output and TC = total cost
a. Determine the marginal and average cost functions
b. Calculate the output level that minimizes average cost
c. Calculate the output level that minimizes marginal cost
1
Expert's answer
2014-02-11T09:40:10-0500
The answer to the question is available in the PDF file https://www.assignmentexpert.com/https://www.assignmentexpert.com/homework-answers/economics-answer-38995.pdf

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