How do you find the equation for price, marginal cost, avg. cost, and marginal revenue?

April 3rd, 2008 · 1 Comment

question:
Q= 2,600-40p
where Q is measured in millions of plastic bags and P is measured in cents
Assume plastic bags are made by a monopolist at a cost of $0.15 a bag, that is TC=15 x Q
Derive the equation for price, marginal cost, average cost, and marginal revenue

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1 response so far ↓

1 Royal Horse // Apr 3, 2008

Plot these on a graph

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How do you find the equation for price, marginal cost, avg. cost, and marginal revenue?

April 3rd, 2008 · 1 Comment

1 response so far ↓

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