For a cost function TC = 3Q2 + 7Q +12, MC is :

Related MCQs

• The cost per output is given by C = 2x + 27. Then the marginal cost when x = 5 is:
• For a total cost function TC = 1.5Q2 + 4Q + 46, MC is :
• The given function f (x) = ax + b, is an example of ____ function:
• The given function f (x) = ax2 + bx + c , is an example of ____ function:
• Demand function for a commodity is D = 44 – 7P and supply function S = 2P –10, then the equilibrium price is:
• When we optimise a function, with the first order derivative equal to ___ and the second order derivative ___ the function is at a relative minimum.
• ____ functions are a special class of homogeneous function in which the marginal rate of Technicalsubstitution is constant along the function.
• ____ refers to the change in total cost (TC) due to the production of an additional unit of output.
• The slope of ___curve will be positive if and only if the marginal cost curve lies above the AC curve.
• If the demand facing a monopolist is P = 100 − 10Q and marginal cost is constant at 20, then the profit maximizing price and quantity for this monopolist are: