Find and Such That the Line Is

question 8

Essay

Find and such that the line is tangent to at .

---

Definitions:

Average Cost

The total cost divided by the quantity produced, calculating the cost on a per unit basis.

Total Output

The total quantity of goods or services produced by a firm or economy.

Fixed Costs

Expenses that do not change with the level of goods or services produced by a business.

Variable Costs

Expenses that vary directly with the level of production or volume of output.