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Unformatted text preview: MC = change in TC / Change in Q Change in TC = TC2 TC1 Q2 Q1 = Change in Q Find the rate of input that results in an minimum average variable cost (AVC) TC = 1000 + 10Q 0.9Q^2 + 0.04Q^3 TVC = 10Q 0.9Q^2 = 0.04Q^3 AVC = TVC / Q = 10- 0.9Q + 0.04Q^2 MC = dTC / dQ 13:17 13:17...
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This note was uploaded on 02/23/2012 for the course 373 363 taught by Professor Hochman during the Spring '12 term at Rutgers.
- Spring '12