if is a cost function. Find the average cost function. At what level of production q, is there a minimum average cost?
how do i calculate this? I have got no idea
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The "average value" of a continuous function, between x= a and x= b, is given by . To find the average cost, use "x" rather than b as upper bound: . Of course, to find the max or min of a function you set the derivative equal to 0.
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