A firm has determined that its variable costs are given by the following relationship: VC = .05Q³ -5Q² + 500Q where Q is the quantity of output produced.
(a)Determine the output level where average variable costs are minimized.
(b)Determine the output level where marginal costs are minimized.

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The Answer of A firm has determined that its variable costs are given by the following relationship: VC = .05Q³ -5Q² + 500Q where Q is the quantity of output produced. (a)Determine the output level where average variable costs are minimized. (b)Determine the output level where marginal costs are minimized.

A Firm Has Determined That Its Variable Costs Are Given