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Math Help - Economics

  1. #1
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    Economics

    In the short run a firm's total costs of producing the hundredth unit of output equal $10,000. if itproduces one more unit, its total costs will increase to $10,150.
    A) What is the marginal cost of the 101 st, unit of out put?
    B) What is the firm's average total cost of producing 100 unit?
    C) What is the firm's average total cost of producing 101 units?
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  2. #2
    Behold, the power of SARDINES!
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    Quote Originally Posted by Celia View Post
    In the short run a firm's total costs of producing the hundredth unit of output equal $10,000. if itproduces one more unit, its total costs will increase to $10,150.
    A) What is the marginal cost of the 101 st, unit of out put?
    B) What is the firm's average total cost of producing 100 unit?
    C) What is the firm's average total cost of producing 101 units?
    I may be remembering this wrong but I think marginal cost is

    \frac{dC}{dx}|_{x=101} \approx \frac{C(101)-C(100)}{101-100}=\frac{10150-10000}{101-100}=150

    for B, and C just find the averages
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