Question
You own a company whose fixed costs (FC) are equal to FC = 800 and its variable costs (VC) are given by the function =
You own a company whose fixed costs (FC) are equal to FC = 800 and its variable costs (VC) are given by the function = 2 - 6.
(a) Calculate and plot the marginal cost (MC).
(b) Find the quantity to produce that maximizes your firm's profit when the market price of the good you produce is P = 54 and calculate the firm's profit (or loss, as appropriate).
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Macroeconomics
Authors: N. Gregory Mankiw, William M. Scarth
5th Canadian Edition
1464168504, 978-1464168505
