A reasonably realisticmodel of a firms costs is given by the short-run Cobb-Douglas cost

Applied Calculus | 5th Edition | ISBN: 9781118174920 | Authors: Deborah Hughes-Hallett Patti Frazer Lock Andrew M. Gleason Daniel E. Flath, Sheldon P. Gordon, David O. Lomen, David Lovelock, & 7 more

Problem 15 Chapter 4.5

Applied Calculus | 5th Edition

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Applied Calculus | 5th Edition | ISBN: 9781118174920 | Authors: Deborah Hughes-Hallett Patti Frazer Lock Andrew M. Gleason Daniel E. Flath, Sheldon P. Gordon, David O. Lomen, David Lovelock, & 7 more

Applied Calculus | 5th Edition

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Problem 15

A reasonably realisticmodel of a firms costs is given by the short-run Cobb-Douglas cost curve C(q) = Kq1/a + F, where a is a positive constant, F is the fixed cost, and K measures the technology available to the firm. (a) Show that C is concave down if a > 1. (b) Assuming that a < 1, find what value of q minimizes the average cost.

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Chapter 4.5, Problem 15 is Solved
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Textbook: Applied Calculus
Edition: 5
Author: Deborah Hughes-Hallett Patti Frazer Lock Andrew M. Gleason Daniel E. Flath, Sheldon P. Gordon, David O. Lomen, David Lovelock, & 7 more
ISBN: 9781118174920

The full step-by-step solution to problem: 15 from chapter: 4.5 was answered by Patricia, our top Calculus solution expert on 01/22/18, 03:47PM. The answer to “A reasonably realisticmodel of a firms costs is given by the short-run Cobb-Douglas cost curve C(q) = Kq1/a + F, where a is a positive constant, F is the fixed cost, and K measures the technology available to the firm. (a) Show that C is concave down if a > 1. (b) Assuming that a < 1, find what value of q minimizes the average cost.” is broken down into a number of easy to follow steps, and 66 words. This textbook survival guide was created for the textbook: Applied Calculus, edition: 5. Since the solution to 15 from 4.5 chapter was answered, more than 221 students have viewed the full step-by-step answer. This full solution covers the following key subjects: . This expansive textbook survival guide covers 72 chapters, and 2635 solutions. Applied Calculus was written by Patricia and is associated to the ISBN: 9781118174920.

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