1. Suppose that the manager of a firm operating in a perfectly competitive market has estimated the average variable cost function to be: AVC= 4.0 -0.0024Q + 0.000006Q2 Fixed costs are $500. a) The marginal cost function is:

1. Suppose that the manager of a firm operating in a perfectly competitive market has estimated the average variable cost function to be: AVC= 4.0 -0.0024Q + 0.000006Q2 Fixed costs are $500. a) The marginal cost function is:

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter7: Proudction Costs

Section: Chapter Questions

Problem 14SQ

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1. Suppose that the manager of a firm operating in a perfectly competitive market has estimated the average variable cost function to be:
AVC = 4.0 -0.0024Q + 0.000006Q²
Fixed costs are $500.
a) The marginal cost function is:

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