Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The cost function of a firm is given by C(x)=250,000+15,000-0.3x3 What is the firm's marginal cost(MC)? Evaluate MC(X=100)? What does your answer from (ii) suggest

The cost function of a firm is given by C(x)=250,000+15,000-0.3x3
What is the firm's marginal cost(MC)?
Evaluate MC(X=100)?
What does your answer from (ii) suggest about the firm's cost when x=100
image text in transcribed
The cost function of a firm is given by C(x) = 250,000 +15,000.2 - 0.3x. i) What is the firm's marginal cost (MC)? ii) Evaluate MC(x = 100)? iii) What does your answer from ii) suggest about the firm's cost when x 100

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

Personal Finance

Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes, Arshad Ahmad, Jordan Fortino

6th Canadian edition

1259453146, 978-1259453144

More Books

Students also viewed these Finance questions

Question

All sensory memory is fi rst encoded linguistically.

Answered: 1 week ago