Answer to Question #146536 in Microeconomics for Edwin

Question

A firm has a monopoly in the market for match boxes. In order to produce Q match boxes, it cost a firm C(Q)=2Q^2

a) Find the marginal cost of producing a matchbox for this firm?

Answer 1

$$Solution$$

Total Cost for $q$ match boxes is therefore;

$TC=2q^2\\ Differentiate\ the\ cost\ function\ to\ obtain\ Marginal\ Cost.\\ Which\ is\\ MC=\frac {\Delta\ TC}{\Delta\ q}=4q\\$