A firm has this cost function: where Q is output (the number of items produced) and C
Question:
A firm has this cost function:
where Q is output (the number of items produced) and C is the total cost of producing these items. The marginal cost MC is
a. What is the marginal cost at Q = 0?
b. At Q = 0, is the slope of the marginal cost function positive or negative?
c. Does the slope of the marginal cost function increase or decrease as Q increases?
Transcribed Image Text:
C = 1,200Q-45Q+0.60
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Related Book For
Essential Statistics Regression And Econometrics
ISBN: 9780123822215
1st Edition
Authors: Gary Smith
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