What level of output will minimize the average cost? what, Ask an Expert

Economics

Jae's construction company has the following short-run cost function:

q3 - 10q2 + 36q.

a. What level of output will minimize the average cost? What is the AC at this point?
b. Does the production process indicate diminishing returns? How can you tell?

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M949954

Have any Question?Write your Review or question?

Related Questions in Microeconomics

Question a recent graduate has submitted his application to

Question: A recent graduate has submitted his application to the World Bank for a position in the Young Professional Program. He knows the Bank hires 4% of its applicants. Only some of the applicants receive an interview ...

Question according to the pih the ratio of permanent

Question: According to the PIH, the ratio of permanent consumption to permanent income is uncorrelated with the level of income. Thus someone earning $5,000,000 per year would save the same percentage of their income as ...

Question 1 when have you experienced price discrimination2

Question: 1) When have you experienced price discrimination? 2) Did price discrimination provide a benefit for you or did you think you paid more? 3) Why do companies price discriminate. 200 words

Question use the web to find a print advertisement you

Question: Use the web to find a print advertisement you would like to analyze. You may conduct a Google image search for a print ad for a product that you are interested in. and answer at least 3 of the following questio ...

Question research on how supervisors rate employees who

Question: Research on how supervisors rate employees who work under them has found that in some firms as many as 95 percent of all ratings are "good" or "outstanding." a. Is this necessarily evidence that supervisors are ...

Question given recent trends what are the near-term

Question: Given recent trends, what are the near-term prospects for the U.S. economy, and how simulative or restrictive do you expect economic policy (both monetary and fiscal) to be over (say) the next 12 months, and ho ...

Question - in fall 2013 apple loaned its sapphire glass

Question - In fall 2013, Apple loaned its sapphire glass supplier $578 million to set up a manufacturing plant to produce the glass for the new iPhone 6. In November 2014, Apple's glass supplier lost the contract and pro ...

Question - let us suppose that a hospital wants to set

Question - Let us suppose that a hospital wants to set their fees for an overnight stay such that the contribution margin on a hospital room will be 35%. The cost to the hospital of an overnight stay (staff, physical equ ...

Question on march 4 1990 the new york times reported wine

Question: On March 4, 1990, the New York Times reported "Wine Equation Puts Some Noses Out of Joint." In this problem you will estimate an equation that predicts the quality of wine. Typically wine is rated long before i ...

What would be 3 effects associated with changes in

What would be 3 effects associated with changes in productivity, good and bad? Can the government affect productivity, if so in what ways good and what ways not so good?

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Microeconomics Expert