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Please go over calculating average cost

In your microeconomics course, there is a video about maximizing profit and the average cost curve. I'm not sure I understand how to answer this question -

Given the cost function for Simon, a housepainter in a competitive local market, below, answer the questions that follow. (You may want to calculate average cost.) What is the minimum price per room at which Simon would be earning positive economic profit?

Hope you can help!

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    Noelle shared this idea  ·   ·  Admin →

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