Consider the following “Total Cost” function:

Total Cost = 4Q³ – 204Q² + 700Q + 2500

a.) Solve for the “inflection point” of this function ( show your work).

b.) Which Q has the LOWEST “Marginal Cost” ( give a numerical answer; briefly

explain how your answer to a.) is relevant).

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Expert Solution

Rahul Sunny answered 1 year ago

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