(Solution) - The Dijon Company s total variable cost function is TVC 50Q -(2025 Original AI-Free Solution)

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The Dijon Company's total variable cost function is
TVC = 50Q - 10Q2 + Q3
where Q is the number of units of output produced.
a. What is the output level where marginal cost is a minimum?
b. What is the output level where average variable cost is a minimum?
c. What is the value of average variable cost and marginal cost at the output specified in the answer to part (b)?