Find the output level that minimizes average total cost

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Suppose a firm’s total cost curve is TC = 1000 + 10q + 4q2 , such that MC = 10 + 8q.

(a) Find the firm’s fixed cost, variable cost, average total cost, and average variable cost.

(b) Find the output level that minimizes average total cost.

(c) Find the output level that minimizes average variable cost.

Reference no: EM131097112

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