13) For the given cost function C(x) = 48,400 +600x + x2,
First, find the average cost function. Use it tofind:
a) The production level that will minimize the average cost
x =Â Â Â Â Â
b) The minimal average cost
$ =
14) Suppose a product's revenue function isgiven by R(q)=−4q2+400q, where R(q) is in dollars and qis units sold. Find a numeric value for the marginal revenue at 31units.
MR(31) = ? $ per unit
