Solution-Calculate maximum and minimum output for average

Calculate maximum and minimum output for average variable

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Reference no: EM13828963

Precision Engineering department has collected data on its average costs of production for the past 12 months. The monthly fixed cost is $4000 per month. The AVC and associated output data are presented below:

Month	Q	AVC $
Jan	70	375
Feb	58	540
Mar	160	450
Apr	120	255
May	130	138
Jun	120	150
Jul	10	450
Aug	35	350
Sep	80	60
Oct	110	70
Nov	100	90
Dec	190	153

Show the level of output at which AVC reach its minimum value, and the minimum value of AVC at its minimum.

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This question is based on Statistics and explain about calculating the maximum output at maximum AVC and minimum output at minimum AVC.

Reference no: EM13828963

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Calculate maximum and minimum output for average variable

Reference no: EM13828963

Reference no: EM13828963

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