If marginal cost is 3q^2 + 5 dollars per ton and fixed cost is 16 dollars, find the minimum average cost.
If marginal cost is 3q^2 + 5 dollars per ton and fixed cost is 16 dollars, find the minimum average cost.
21 maybe...i just plugged it into my calculator and graphed it.
17
Take the derivative of the equation for average cost and set it equal to zero as this is the point of inflection for that curve.
cost=21 at q=0
minimum average cost=17 at q=2
min avg cost when q= third root of 16/6