At which quantity are average costs minimized

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Reference no: EM131095559

Suppose you are the owner of a firm. You’ve optimized and determined that the cost function is as follows: C(Y) = 3000 + 0.5Y^2 - 20Y.

a) What are the fixed costs?

b) What are the operating (variable) costs?

c) At which quantity are operating (variable) costs minimized?

d) At which quantity are average costs minimized?

Reference no: EM131095559

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