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

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

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Comparative Advantage and Absolute Advantage Analysis

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

Question

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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