4. a) If the marginal cost of a firm is 18e and the fixed cost is 67, find the total cost function. What is the total cost, average cost and variable cost at X=14?   b) The demand equation of a monopoly firm is: P=138-3Q^2 and the marginal cost is: MC = 4Q +7, then find the total revenue and consumer's surplus.

Managerial Economics: A Problem Solving Approach
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Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
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Chapter9: Market Structure And Long-run Equilibrium
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4. a) If the marginal cost of a firm is 18e and the fixed cost is 67, find the total cost function. What is the total cost, average cost and variable cost at X=14?

 

b) The demand equation of a monopoly firm is: P=138-3Q^2 and the marginal cost is: MC = 4Q +7, then find the total revenue and consumer's surplus.     V

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