If 4 units are produced, the total cost is $ 850.00, and when 5 units are...

Question

Question

If 4 units are produced, the total cost is $ 850.00, and when 5 units are produced, the total cost is $ 867.00. What is the marginal cost then?

What is the amount and profit that maximize revenue and cost functions? I = 35Q - 2Q ^ 2 and CT = 21-25Q - Q ^ 2

Answer 1

Answer #1

The marginal cost is the extra cost incurred for producing one more unit. So the marginal cost = 867-850 = 17.

Can you please explain what I and CT are for next part of the question.

Answer 2

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