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Author Question: For each of the following cost functions, find MC, AC, and AVC. a. TC = 20,000 + 10 Q b. TC = ... (Read 61 times)

rlane42

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on: Jul 1, 2018
For each of the following cost functions, find MC, AC, and AVC.
 
  a. TC = 20,000 + 10 Q
  b. TC = 18,000 + Q + 0.2 Q2

Question 2

A firm practicing group price discrimination across two countries sets MR = common MC and therefore
 
  A) price will be the same in both countries.
  B) price will be twice MR.
  C) profit will be the same in both countries.
  D) price will likely be different in each country.


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phuda

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Reply #1 on: Jul 1, 2018
Answer to Question 1

a. MC = 10
AC = (20,000/Q) + 10
AVC = 10
b. MC = 1 + 0.4Q
AC = (18,000/Q) + 1 + 0.2Q
AVC = 1 + 0.2Q

Answer to Question 2

D


rlane42

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Reply #2 on: Jul 1, 2018
Correct answers!


phuda

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Reply #3 on: Jul 1, 2018
Great! Please up vote :D


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