Essay
Suppose a firm's total cost curve is TC = 5Q2 + 6Q + 125.
a. Find the firm's marginal cost, average total cost, and average variable cost.
b. Use calculus to find the output level that minimizes average total cost.
c. Show that ATC = MC at this output level.
d. Show that this is the minimum ATC by examining the second derivative.
Correct Answer:
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"a. Marginal cost is: 
Average total cos...View Answer
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Correct Answer:
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Average total cos...View Answer
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