Explanation Given information: The following table shows the cost C ( q ) and revenue R ( q ) in terms of quantity q. Formula Used: We know that marginal cost can be written as follows, C ' ( q ) = C ( q + 1 ) − C ( q ) q + 1 − q = C ( q + 1 ) − C ( q ) And marginal revenue is R ' ( q ) = R ( q + 1 ) − R ( q ) q + 1 − q = R ( q + 1 ) − R ( q ) Calculation: For q = 2 , C ' ( 1 ) = C ( 1 + 1 ) − C ( 1 ) = C ( 2 ) − C ( 1 ) = 60 − 40 = 20 For q = 2 , R ' ( 1 ) = R ( 1 + 1 ) − R ( 1 ) = R ( 2 ) − R ( 1 ) = 220 − 100 = 120 q C ' ( q ) <

Applied Calculus, 6e WileyPLUS + Loose-leaf

6th Edition

ISBN: 9781119408901

Author: Deborah Hughes-Hallett, Andrew M. Gleason, Patti Frazer Lock, Daniel E. Flath

Publisher: Wiley (WileyPLUS Products)

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Chapter 2.5, Problem 19P

To determine

To calculate:

The marginal cost MC(q), marginal revenue, MR(q) for q between 0 and 6.

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Chapter 2.5, Problem 18P

Chapter 2, Problem 1SYU

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Chapter 2 Solutions

Applied Calculus, 6e WileyPLUS + Loose-leaf

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The marginal cost M C ( q ) , marginal revenue, M R ( q ) for q between 0 and 6.

Solution Summary: The author explains the formula used to calculate the marginal cost and revenue for q between 0 and 6.

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To calculate:

The marginal cost MC(q), marginal revenue, MR(q) for q between 0 and 6.

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Chapter 2 Solutions

The marginal cost M C ( q ) , marginal revenue, M R ( q ) for q between 0 and 6.

Solution Summary: The author explains the formula used to calculate the marginal cost and revenue for q between 0 and 6.

Videos

To calculate: The marginal cost MC(q), marginal revenue, MR(q) for q between 0 and 6.

Want to see the full answer?

Chapter 2 Solutions

To calculate:

The marginal cost MC(q), marginal revenue, MR(q) for q between 0 and 6.