Suppose the cost function for a product is linear and the marginal costis $5. If the profit is $200 when 125 units are sold, a) write the equation of the cost function. b) Explain the marginal cost.
Suppose the cost function for a product is linear and the marginal costis $5. If the profit is $200 when 125 units are sold, a) write the equation of the cost function. b) Explain the marginal cost.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter7: Production, Costs, And Industry Structure
Section: Chapter Questions
Problem 34CTQ: What is the relationship between marginal product and marginal cost? (Hint: Look at the curves.) Why...
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![السؤال: )8 علامات(
Suppose the cost function for a product is linear and the marginal cost is $5. If the profit is $200
when 125 units are sold,
a) write the equation of the cost function.
b) Explain the marginal cost.
COO D UO K](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F50ddadbf-9412-4315-a774-99c17091ec1d%2F2fef1c99-6c53-4674-a6a4-c80079792628%2F0d3yyk_processed.jpeg&w=3840&q=75)
Transcribed Image Text:السؤال: )8 علامات(
Suppose the cost function for a product is linear and the marginal cost is $5. If the profit is $200
when 125 units are sold,
a) write the equation of the cost function.
b) Explain the marginal cost.
COO D UO K
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