A firm faces the following Average Cost function:(adsbygoogle = window.adsbygoogle || []).push({});

AC=50q^-1 +30-1.5q+0.125q^2

Calculate the output level (q) which minimzies

a) Average Variable cost

How do i find this out if i don't know the amount of fixed cost?

b) Marginal cost

Total cost=50+30q-1.5q^2+0.125q^3

MC=30-3q+0.375q^2

0=30-3q+0.375q^2

how do you solve this? the quadratic formula doesn't seem to work

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# Given an average cost function, calculate output level

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