Explore BrainMass

Explore BrainMass

    The minimum average cost

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Please refer to the attached file.

    For the given cost function
    C(x)=40000+500x+x2 (the function is 40,000 +500x+x^2) find:
    a) The cost at the production level 1850
    b) The average cost at the production level 1850
    c) The marginal cost at the production level 1850
    d) The production level that will minimize the average cost
    e) The minimal average cost

    © BrainMass Inc. brainmass.com October 10, 2019, 3:53 am ad1c9bdddf


    Solution Summary

    This solution explains how to calculate the minimum average cost as well as other cost functions.