Find output level of widgets to minimize average total cost, Microeconomics

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Find output level of widgets to minimize average total cost

The demand for widgets (X) is given by:

Px = 160 - 4x

The production of widgets has the following average variable costs:

AVC = 2x - 20

Fixed costs are 162.

Calculate the output level of widgets that:

a. Maximizes total revenue.
b. Minimizes the average total cost (ATC) of widgets.
c. Minimizes the total cost (TC) of widgets.
d. Maximizes profits.

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Microeconomics: Find output level of widgets to minimize average total cost

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Microeconomics: Find output level of widgets to minimize average total cost

Reference No:- TGS075778

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

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Request for Solution File

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Microeconomics: Find output level of widgets to minimize average total cost

Reference No:- TGS075778

Recent Questions Asked Microeconomics

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