Question
Assume that this is the cost function for a perfectly competitive firm: Cost (q) = 5 q 2 + 20 For this cost function, Marginal
Assume that this is the cost function for a perfectly competitive firm: Cost (q) = 5 q2 + 20
For this cost function, Marginal Cost = MC = 10 q .
q | Total Cost | AVC | AFC | ATC | MC |
0 | 20 | 0 | -- | -- | -- |
1 | 25 | 5 | 20 | 25 | 10 |
2 | 40 | 10 | 10 | 20 | 20 |
3 | 65 | 15 | 6.67 | 21.67 | 30 |
4 | 100 | 20 | 5 | 25 | 40 |
5 | 145 | 25 | 4 | 29 | 50 |
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Econometrics By Example
Authors: Damodar Gujarati
2nd Edition
1137375019, 9781137375018
