Log in
Economics
1
answer
0
watching
52
views

The cost of commercials is given by C(x) = 490 + 320x + 0.001x2. What level of output should be produced to minimize the average cost of production?

Watch
1
answer
0
watching
52
views

For unlimited access to Homework Help, a Homework+ subscription is required.

Yusra Anees
Yusra AneesLv10
11 Mar 2021

Unlock all answers

Get 1 free homework help answer.
Already have an account? Log in
Share

Related textbook solutions

Principles of Economics
2nd Edition, 2017
Openstax
ISBN: 9781947172364
Principles of Macroeconomics
2 Edition,
Openstax
ISBN: 9781947172388
Principles of Microeconomics
2 Edition,
Openstax
ISBN: 9781947172340

Related questions

If the cost of air ticket is given as C = 490 + 320X + 0.001X^2, find the average cost at X = 10.

Excess capacity in monopolistically competitive industries results because in equilibrium

A) each firm's output level is too great to minimize the average cost.

B) each firm's output level is too small to minimize the average cost.

C) firms make a positive economic profit.

D) price equals marginal cost.

Ā 

A perfectly competitive firm is currently producing 1,000 baseball hats Its current marginal cost is $5. average total cost is $6, and its total fixed costs are $900. The market price is $5. To maximize profits or minimize losses, this firm should A. decrease its output. B. stay at the current output level. C. raise its price, D. increase its output E. temporarily shut down production.

Weekly leaderboard

Home
Homework Help 3,900,000
Economics 400,000
Start filling in the gaps now
Log in