Suppose the total cost function for a firm is given by: TC= 100 + 2q +4q2.
Find the marginal cost function and then use that to determine the marginal cost of the 10th unit.
Marginal cost is the change in total cost due to one unit change in output produced. Mathematically, it s expressed as the following
MC = d(TC)/dq
= 2+ 8q
For q = 10 ,
MC = 2+ 8* 10
=82
Suppose the total cost function for a firm is given by: TC= 100 + 2q +4q2....
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