2. Suppose you are given the following cost data for a product. q (units) C (dollars) 4693 4831 5001 405 420 440 (a) Use averaging to estimate MC(120) (give units of your answer). (b) If the reventie (in dollars) from selling q units is R= 13.78q. estimate the cffect on profit of producing and selling the 421st unit.

2. Suppose you are given the following cost data for a product. q (units) C (dollars) 4693 4831 5001 405 420 440 (a) Use averaging to estimate MC(120) (give units of your answer). (b) If the reventie (in dollars) from selling q units is R= 13.78q. estimate the cffect on profit of producing and selling the 421st unit.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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