Question
The marginal cost for a product is given by dC/dq = 1000/sqrt3q+20, in hundreds of dollars, where q is given in thousands of units. Determine the cost in dollars involved in increasing product from 10 to 15 thousand units. If
R(0)= C(0)= 0, the marginal revenue is given by dR/dq =30(2-0.1q) and the surplus equation given by Ps(q)= 10 + 18.5q, determine the consumers’ surplus if the unit price is equal to the market value when in equilibrium.
R(0)= C(0)= 0, the marginal revenue is given by dR/dq =30(2-0.1q) and the surplus equation given by Ps(q)= 10 + 18.5q, determine the consumers’ surplus if the unit price is equal to the market value when in equilibrium.