(a) The total cost function of a firm is C(x) = 1000000 + 500x2 + 250x. What is the Average cost function? what is the marginal cost function? at what value of x is the average cost minimized?
Q5(b) A company’s marginal revenue function is given as MR(x) = 5000 - 100x. Find the total revenue function and the total revenue maximizing output.
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Answer:
total cost of function of a firm
Step-by-step explanation:
x = 1000000 + 500×2 + 250 ×
1× - 250× = 200000000
249x = 200000000
×= 2000000000÷249
×=
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