All-Leather is a tanning company in Chicago. Its total cost function is C(QA) = 25 + 10QA + 4QA2, where QA is leather production per week in thousands of pounds. a) What is the formula for All-Leather's marginal cost function? b) If leather sells for $1190 per thousand pounds, how much leather will All-Leather produce? c) How much profit will All-Leather make

a. C(QA) = 25 + 10QA + 4QA2 MC = dC(QA) dQA MC = 10 + 8QA

All-Leather is a tanning company in Chicago. Its total cost function is C(QA) = 25 + 10QA + 4QA2, where QA is leather production per week in thousands of pounds. a) What is the formula for All-Leather's marginal cost function? b) If leather sells for $1190 per thousand pounds, how much leather will All-Leather produce? c) How much profit will All-Leather make

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter22: Supply: The Costs Of Doing Business

Section: Chapter Questions

Problem 14E

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