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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
1
Expert's answer
2019-10-18T09:42:41-0400

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


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