Question #141150
27. Given the total revenue function TR = 50Q - 0.5 Q2
and the total cost function TC = 2000 + 200Q - 0.2Q2 + 0.001Q3
Find the marginal revenue and the marginal cost functions.
1
Expert's answer
2020-11-02T07:02:01-0500

The marginal revenue and the marginal cost functions are:

MR = TR'(Q) = 50 - Q,

MC=TC′(Q)=200−0.4Q+0.003Q2.MC = TC'(Q) = 200 - 0.4Q + 0.003Q^2.


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