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Expressions for the average cost function

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Reference no: EM131043401

Consider the cost function c(y) = 4y^2 + 16.

1) Write down expressions for the average cost function, marginal costfunction, and average variable cost.

2)What is the level of output that yields the minimum average cost of production?

3) At what level of output does average variable cost equals marginal cost?

Reference no: EM131043401

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