Homework Answers
Answer
MC(n)=TC(n)-TC(n-1)
MC=marginal cost of n th unit
TC(n)=total cost of n unit
MC(2)=16-12=4 and so on
| Q | TC | MC |
| 1 | 12 | |
| 2 | 16 | 4 |
| 3 | 22 | 6 |
| 4 | 30 | 8 |
| 5 | 40 | 10 |
| 6 | 52 | 12 |
The firm produces at P=MC or the nearest lower MC
MC=10 and P=11 at Q=5 units
Option 3
5 scissors
Option
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