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2 answers:
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Answer:
a)
b)
c)
Step-by-step explanation:
For total cost function , average cost is given by
i.e., total cost divided by number of units produced.
Marginal average cost function refers to derivative of the average cost function i.e.,
Given:
Average cost =
a)
At x = 50 units,
b)
Average cost =
c)
Marginal average cost:
Differentiate average cost with respect to
Take
using quotient rule,
Therefore,