Consider the total revenue function, TR = 59 + 9Q + 3Q^2 *Find the marginal revenue (MR) at Q= 4. b)Consider the total cost function, TC = 55 + 6Q - 7Q^2 + 3Q^3 *Find the marginal cost (MC) at Q= 4

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Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.