Answer to Question #146620 in Microeconomics for Ronoh Kipngeno

Question #146620
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?
1
Expert's answer
2020-11-27T12:46:38-0500

"\\bold {Answer}"

"MC = 4Q"


"\\bold {Solution}"

Marginal cost is found by differential calculus, given the total cost function.

"MC = \\dfrac {d}{dQ} (TC)"


"= \\dfrac {d}{dQ} [C(Q)]"


"= \\dfrac {d}{dQ} (2Q^2)"


"= 4Q"


Therefore, the marginal cost is "\\$4Q"


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