Question
Given the data provided in the table below, what will the marginal cost be equal to if the current level of production is (Q) level
Given the data provided in the table below, what will the marginal cost be equal to if the current level of production is (Q) level 3 and then production will increase to the quantity (Q) level 4?
Q | P | TC | TR | MR | MC | Profit |
0 | $7 | $12 | ||||
1 | $7 | $16 | ||||
2 | $7 | $17 | ||||
3 | $7 | $25 | ||||
4 | $7 | $30 | ||||
5 | $7 | $33 | ||||
6 | $7 | $40 | ||||
7 | $7 | $44 |
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Microeconomics Principles For A Changing World
Authors: Eric Chiang
4th Edition
1464186677, 978-1464186677
