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Suppose a Firm's Total Cost and Marginal Cost Are Given

Question 5

Multiple Choice

Suppose a firm's total cost and marginal cost are given by TC = 192 + 10Q + 3Q2 and MC = 10 + 6Q. What is the output level that minimizes average total cost?


A) 8
B) 1.5
C) 21
D) 4

Correct Answer:

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