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The Total Costs are given by T C ( q ) = 400 + 4 q...

The Total Costs are given by T C ( q ) = 400 + 4 q 2. Marginal Costs are given by MC(q)=8q. What is the firm's MIN ATC?

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Answer #1

Average Total cost (ATC) is calcuated by total of Variable cost and Fixed cost divided by the units produced by the industry.

Therefore, minimum ATC is 80.

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