Derive the average-cost and marginal-cost schedules and


7. Given the following total cost schedule:
Q 0 1 2 3 4
TC 1 12 14 15 20
Derive the average-cost and marginal-cost schedules and show the profit-maximizing level of output (profit=TR-TC).

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Business Management: Derive the average-cost and marginal-cost schedules and
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