Find marginal cost of last unit produced

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Q. A). If elasticity of demand for product is 2, find marginal cost of last unit produced. B). What is firms percentage mark-up of price over marginal cost?

Q. Why? Economics 100A, Fall 2005, Lecture 10 Economics 100A, Fall 2005, Lecture 10 Why Study Production? Seen how a consumer chooses what to buy given availability of commodities But what is available for her to buy? How do rms decide what to produce? Once you know what to produce. How do you produce it? How much does it cost to produce it?

Reference no: EM1369815

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