Hello, please help me. I just can't seem to figure this out
Suppose a total cost function is given by TC=0.01Q^{2}+5Q+100, where TC is total cost (£'s) and Q is output (units). Find the output level that minimises average total cost (ATC)
Hello, please help me. I just can't seem to figure this out
Suppose a total cost function is given by TC=0.01Q^{2}+5Q+100, where TC is total cost (£'s) and Q is output (units). Find the output level that minimises average total cost (ATC)
You don't really need to use calculus. Do you know how to find the turning point of a Quadratic?