marginal cost is the derivative of the average cost, right? So,
2Q-5 + 7Q is useless, so I assume it is
2Q^.5 + 7Q
if so, then MC = 1/√Q + 7
Now see what you can do with that.
Given the average cost function
AC =2Q-5 +7Q Find an expression for marginal cost. If current output is 20 units. Compute the effect on total cost of an increase in production of 15units.
1 answer
1 answer