A what is the average cost function and the minimum


Suppose a firm's long run total cost curve is given by:

TC = 1000-30Q^2+Q^3

a. What is the average cost function and the minimum efficient scale of the firm?

b. Determine over what range of output the average cost shows economies of scale and over what range of output shows diseconomies of scale?

Solution Preview :

Prepared by a verified Expert
Basic Computer Science: A what is the average cost function and the minimum
Reference No:- TGS02299156

Now Priced at $10 (50% Discount)

Recommended (94%)

Rated (4.6/5)