What is MC(y)?

Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter21: Costs And The Supply Of Goods
Section: Chapter Questions
Problem 16CQ
icon
Related questions
Question
QUESTION 1
Consider the following cost function (with input prices taken as constants): c(y) =y. What is MC(y)?
Oa. y313
O b.y?
C.
O d. 2y
QUESTION 2
Consider the following cost function (with input prices taken as constants): c(y) = y. What is AC(y)?
Oa. 3y2
Ob.y
Oc. 2y3
Od.y313
Transcribed Image Text:QUESTION 1 Consider the following cost function (with input prices taken as constants): c(y) =y. What is MC(y)? Oa. y313 O b.y? C. O d. 2y QUESTION 2 Consider the following cost function (with input prices taken as constants): c(y) = y. What is AC(y)? Oa. 3y2 Ob.y Oc. 2y3 Od.y313
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Recommended textbooks for you
Economics: Private and Public Choice (MindTap Cou…
Economics: Private and Public Choice (MindTap Cou…
Economics
ISBN:
9781305506725
Author:
James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:
Cengage Learning
Microeconomics: Private and Public Choice (MindTa…
Microeconomics: Private and Public Choice (MindTa…
Economics
ISBN:
9781305506893
Author:
James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:
Cengage Learning
Principles of Economics 2e
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
Exploring Economics
Exploring Economics
Economics
ISBN:
9781544336329
Author:
Robert L. Sexton
Publisher:
SAGE Publications, Inc
Micro Economics For Today
Micro Economics For Today
Economics
ISBN:
9781337613064
Author:
Tucker, Irvin B.
Publisher:
Cengage,
Survey Of Economics
Survey Of Economics
Economics
ISBN:
9781337111522
Author:
Tucker, Irvin B.
Publisher:
Cengage,