Equation for the total cost function, Microeconomics

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Equation for the total cost function

The jenkins Tool Company estimated the following demand equation for its product: Qd=12000-4000P where p=price/unit, Qd=quantity demanded/year

The firm's total cost are 4000 when nothing is being produced. These costs increase by 50 cents for each unit produced.

a. Write an equation for the total cost function.

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Microeconomics: Equation for the total cost function

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Microeconomics: Equation for the total cost function

Reference No:- TGS066209

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

Q : Assessing the incremental benefits

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Request for Solution File

Ask an Expert for Answer!!

Microeconomics: Equation for the total cost function

Reference No:- TGS066209

Recent Questions Asked Microeconomics

Q : Assessing the incremental benefits

Q : The audiance acts as the main factor

Q : Distorting facts on a résumé is unethical

Q : What was the total amount of the company''s merchandise

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