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Average cost function

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Reference no: EM131503598

Suppose a firm's long run total cost curve is given by:

TC = 1000-30Q^2+Q^3

a. What is the average cost function and the minimum efficient scale of the firm?

b. Determine over what range of output the average cost shows economies of scale and over what range of output shows diseconomies of scale?

Reference no: EM131503598

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