1 davidrsquos total variable cost function has been, Ask an Expert

Economics

1. David’s total variable cost function has been calculated to be TVC = 100Q + 30Q² - Q³, where Q is the number of units of output.

(A) When marginal cost is a minimum, what is the output level?

(B) When average variable cost is a minimum, what is the output level?

2. Company W is selling product A for $4/unit. The average variable cost is $2, and the total fixed costs are $300,000. How much should the company produce in order to break even?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91924877

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