Economics:
10th Edition
ISBN: 9781285859460
Author: BOYES, William
Publisher: Cengage Learning
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Chapter 23, Problem 2E
To determine
To calculate marginal revenue and marginal cost.
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The problem statement never defines whether the loan had compound or simple interest. The readings indicate that the diference in those will be learned later, and the formula used fro this answer was not in the chapter. Should it be assumbed that a simple interest caluclaton should be used?
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