Question
You have estimated that your firm's total cost function for a particular product is TC = 7q^2-11q+558, where TC is total cost and q is
You have estimated that your firm's total cost function for a particular product is TC = 7q^2-11q+558, where TC is total cost and q is units of output. What is the firm's marginal cost for this product when producing 89 units?
Step by Step Solution
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Step: 1
To find the firms marginal cost when producing 89 units we need to calculate the derivative o...
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Step: 2
Step: 3
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Econometric Analysis
Authors: William H. Greene
5th Edition
130661899, 978-0130661890
