How to Calculate Marginal Cost - Quickonomics
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(a) A firm's marginal cost function is MC=2 Find an expression for the total cost function if the fixed costs are 500 . Hence find the total cost of producing 40 goods. (b) The marginal revenue function of a monopolistic producer is MR=100-6 Q Find the total revenue function and deduce the corresponding demand equation. (c) Find an expression for the savings function if the marginal propensity to save is given by MPS=0.4-0.1 Y^-1 / 2 and savings are zero when income is 100 . | Numerade
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