Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

TC = 25 + 0.25Q2 Fixed cost = 25 Variable cost = 0.25Q2 Marginal cost = dTC/dQ = d(25 + 0.25Q2)/dQ Marginal cost = 0.5Q

TC = 25 + 0.25Q2

Fixed cost = 25

Variable cost = 0.25Q2

Marginal cost = dTC/dQ = d(25 + 0.25Q2)/dQ

Marginal cost = 0.5Q

How do you derive at 0.5Q? explain calculation/workings

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

Introduction to Behavioral Economics

Authors: David R. Just

1st edition

0470596228, 978-0470596227

More Books

Students also viewed these Economics questions