A manufacturing firm has a total cost curve : TC= 0.25Q^3 - 6Q^2 + 50Q + 240, and a marginal cost curve of MC = 0.75Q^2 -12Q + 50. Calculate the minimum cost that the firm can possibly have.
A manufacturing firm has a total cost curve : TC= 0.25Q^3 - 6Q^2 + 50Q + 240, and a marginal cost curve of MC = 0.75Q^2 -12Q + 50. Calculate the minimum cost that the firm can possibly have.
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter21: Production And Costs
Section21.4: Costs Of Production: Total, Average, Marginal
Problem 3ST
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A manufacturing firm has a total cost curve : TC= 0.25Q^3 - 6Q^2 + 50Q + 240, and a marginal cost curve of MC = 0.75Q^2 -12Q + 50. Calculate the minimum cost that the firm can possibly have.
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