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If Total Cost Is Given by TC = a

Question 47

Multiple Choice

If total cost is given by TC = a + bQ - cQ² + dQ³,then average variable cost is minimized at ________units of output.

A) Q^* = a/2d
B) Q^* = b/2d
C) Q^* = c/3d
D) Q^* = c/2d
E) Q^* = d/2c

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