A firm estimated its short-run costs using an average variable cost function of the form

AVC = a + bQ + cQ²

and obtained the following results. Total fixed cost is $1,500.

What is the minimum value of AVC?

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A firm estimated its short-run costs using an average variable cost function of the form

AVC = a + bQ + cQ²

and obtained the following results. Total fixed cost is $1,500.

What is the minimum value of AVC?

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