Question: Maths question 2. Linear Approximation Suppose a firm has the total cost function C(Q) = 29-1 +2. (a) (1 point) What are the costs of

Maths question

2. Linear Approximation Suppose a firm has the total cost function C(Q) = 29-1 +2. (a) (1 point) What are the costs of producing 1 unit, i.e., C(1)? (b) (1 point) Find MC(1). (c) (4 points) Assume the firm produces 2 units. Use MC(1) and C(1) and the first-order approximation method to approximate the cost of the 20 unit. The cost of the second unit is the total costs of producing 2 units minus the total costs of producing 1 unit, that is, C(2) - C(1). How large is the difference between the approximated cost of the 2"d unit and its actual cost

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