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For the given average cost function AC(Q)= 161 +64-20Q+ Q² 20 Minimize the Marginal Cost MC(Q). Use 3-step optimization
Posted: Sat Jul 09, 2022 2:25 pm
by answerhappygod
- For The Given Average Cost Function Ac Q 161 64 20q Q 20 Minimize The Marginal Cost Mc Q Use 3 Step Optimization 1 (52.17 KiB) Viewed 64 times
For the given average cost function AC(Q)= 161 +64-20Q+ Q² 20 Minimize the Marginal Cost MC(Q). Use 3-step optimization process: 1. Find the critical values of the function the is to be optimized 2. Use second-derivative condition to eliminate unwanted critical values 3. Find the optimal value of the function Round to the nearest dollar. Answer: $ ◆