Question

An economist estimated that the cost function of a single-product firm is:

C(Q) = 100 + 20Q + 15Q^{2} + 10Q^{3}

[**NOTE** à MC(Q) = 20+30Q+30Q^{2}]

Based on this information, determine:

- The marginal cost when Q = 10

Step 1

Marginal Cost: It refers to the additional cost incurred when one more unit of a good is produced.

Step 2

The total cost function is given as follows:

Step 3

The marginal cost function can be found by deriv...

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