Chapter 5.4- Maximization Problems

Chapter 5.4- Maximization Problems - Average Cost • Cost...

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Economics Revenue= R(x) Cost = C(x) Proft = P(x) P(x) = R(x) - C(x) Maximum proft will occur when the marginal revenue equals the marginal cost
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Unformatted text preview: Average Cost • Cost per item produced ◦ Average cost will be minimized or maximized when the marginal cost equals ◦ the average cost...
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This note was uploaded on 02/26/2012 for the course MATHEMATIC 101 taught by Professor None during the Spring '12 term at Aurora University.

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Chapter 5.4- Maximization Problems - Average Cost • Cost...

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