Suppose you are the owner of a firm yoursquove optimized, Ask an Expert

Economics

Suppose you are the owner of a firm. You’ve optimized and determined that the cost function is as follows: C(Y) = 3000 + 0.5Y^2 - 20Y.

a) What are the fixed costs?

b) What are the operating (variable) costs?

c) At which quantity are operating (variable) costs minimized?

d) At which quantity are average costs minimized?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91838235

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