QUESTION 32 The long-run cost function for Ron's Bike Rentals is: C(q) = 6q^2 (q-squared). What...

Question

Question

QUESTION 32

Answer 1

Answer #1

Correct Answer:

A

Working note:

C(Q) = 6Q^2 ------------------ (1)

The differentiation of equation 1 w.r.t. Q, will give MC.

d(C(Q))/dQ = 12Q

MC = 12Q

Answer 2

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		MC=12q
		MC=6q
		MC cannot be determined without MR
		12