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Given the data on fixed and marginal Costs we require the number of units produced to ascertain the Average Total cost, from the MC we an get the TC but to calculate ATC we need the data on total quantity produced

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15y ago

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How do you calculate marginal revenue cost by math and graphically and marginal in general?

Profit=Total revenue - Total cost


How does a firm calculate marginal cost?

In economics and finance, marginal cost is the change in total cost that arises when the quantity produced changes by one unit.


How can one determine the marginal revenue from marginal cost in a business setting?

To determine the marginal revenue from marginal cost in a business setting, one can calculate the change in revenue from selling one additional unit of a product and compare it to the change in cost from producing that additional unit. If the marginal revenue is greater than the marginal cost, it is profitable to produce more units.


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Find (i) the marginal and (2) the average cost functions for the following total cost function. Calculate them at Q = 4 and Q = 6.


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How can one determine the marginal cost in economics"?

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If you have total cost and total benefit how do you get marginal cost and marginal benefit?

Marginal cost is total cost/quantity Marginal benefit is total benefit/quantity