Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Return Subn You have estimated that your firm's total cost function for a particular product is TC = 5q^2-15q+677, where TC is total cost and

image text in transcribed
Return Subn You have estimated that your firm's total cost function for a particular product is TC = 5q^2-15q+677, where TC is total cost and q is units of output. What is the firm's marginal cost for this product when producing 82 units? Type your answer.. 8 10 points Suppose that a firm has estimated its inverse demand curve as P = 1,385 - 0.08*q, where P is the price per unit and q is the quantity of units produced. What is the firm's marginal revenue equal to when it produces 2,078 units? Please round to two decimal places.' Type your

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Microeconomics

Authors: Robert Pindyck, Daniel Rubinfeld

9th Edition

0134184246, 9780134184241

More Books

Students also viewed these Economics questions

Question

Name two mobile apps that affect the choice of brands in the store?

Answered: 1 week ago

Question

5. How can I help others in the network achieve their goals?

Answered: 1 week ago