Answer to Question #96731 in Economics for bello olawale

Question #96731

1. A competitive firm faces a price of 136 and a total cost function of TC=7 + q2 + 6q +5
What is this firm's marginal cost function? MC(q)= 14*q+6

Expert's answer

Marginal cost function is the first derivative of the total cost function, so MC=(7+q2+6q+5)'=2q+6

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