The new firm has entered a business and estimates its learning curve to be
$A C = 100 Q ^ { - 4 }$
where Q is the cumulative total product. What is the average cost for the 1^st and the 100^th product?

Question

The new firm has entered a business and estimates its learning curve to be

A C = 100 Q ^ { - 4 }

where Q is the cumulative total product. What is the average cost for the 1^st and the 100^th product?

Quizplus · Accepted Answer

The Answer of The new firm has entered a business and estimates its learning curve to be $$A C = 100 Q ^ { - 4 }$$ where Q is the cumulative total product. What is the average cost for the 1^st and the 100^th product?

The New Firm Has Entered a Business and Estimates Its AC=100Q−4A C = 100 Q ^ { - 4 }AC=100Q−4

The New Firm Has Entered a Business and Estimates Its $A C = 100 Q ^ { - 4 }$