13) For the given cost function C(x) = 48,400 + 600x + x2, First, find the...

13) For the given cost function C(x) = 48,400 + 600x + x²,

First, find the average cost function. Use it to find:

a) The production level that will minimize the average cost
x =

b) The minimal average cost
$ =

14) Suppose a product's revenue function is given by R(q)=−4q²+400q, where R(q) is in dollars and q is units sold. Find a numeric value for the marginal revenue at 31 units.

MR(31) = ? $ per unit

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Expert Solution

milcah answered 2 years ago

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