Define and compute the marginal cost

Reference no: EM132133685

Question: Cost functions, a part of the definition of profit, are useful to gauge the performance of the business. Suppose an economist estimated that the cost function of single-product firm as :

C(Q) = 10 + 3Q + 3Q² + 3Q³

Define and compute the marginal cost when Q = 3

Reference no: EM132133685

Questions Cloud

What kind of pal is hammerhead : Not having had a contract or a "hit" during the last 12 months, Itchy "Fingers" Valachi, the Mafia's chief executioner, needs a loan to pay off the bills his.

Deciding whether to upgrade or replace existing aircraft : What factors must an air carrier consider in deciding whether to upgrade or replace existing aircraft? What conditions would lead them to go with each decision?

How much monthly revenue must generate per month : A contractor is considering purchasing a CAT 635E scraper. The loan the contractor is considering is a 36 month loan and requires a down payment of $75,000.

Motivation consistent with need theories of motivation : To what extent are Acuity’s and the Container Store’s approach toward motivation consistent with need theories of motivation? Discuss.

Define and compute the marginal cost : Cost functions, a part of the definition of profit, are useful to gauge the performance of the business. Suppose an economist estimated that the cost function.

Pricing skimming when entering new product into market : Under what circumstances do you think price penetration is a better pricing policy than pricing skimming when entering a new product into a market.

Determine present worth of savings due to reconfiguration : Costs associated with the manufacture of miniature high-sensitivity piezoresistive pressure transducers .-is, exist73, 000 per year.

Define reason that why wages are not flexible : Wages are said to be sticky when they do not adjust fast enough to reflect changing conditions of demand and supply. The common reasons cited are long term.

Regulatory approach to controlling automobile emissions : Why are technology standards a reasonable regulatory approach to controlling automobile emissions?

User Account

All Pages