(a) If is the cost of producing units of a commodity, then
Chapter 3, Problem 3.5.35(choose chapter or problem)
(a) If is the cost of producing units of a commodity, then the average cost per unit is . Show that if the average cost is a minimum, then the marginal cost equals the average cost. (b) If , in dollars, find (i) the cost, average cost, and marginal cost at a productional level of 1000 units; (ii) the production level that will minimize the average cost; and (iii) the minimum average cost.
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