Suppose a firm's total cost curve is 
a. Use calculus to find the quantity that minimizes average variable cost for the firm.
b. Demonstrate that average variable cost is equal to marginal cost at this quantity.
Definitions:
Parsimonious
A term used to describe a theory or explanation that is simple and lacks unnecessary elements, favoring minimal assumptions.
Replicable
Capable of being duplicated or repeated under the same conditions, allowing for verification of results in scientific research.
Statistical
Related to or based on the use of statistics, involving the collection, analysis, interpretation, and presentation of numerical data.
Double-blind
A study design in which neither the participants nor the experimenters know who is receiving a particular treatment, thereby eliminating bias.
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