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Marginal Cost Function

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In Bayonne, NJ there is a large beauty salon and a number of smaller ones.
The total demand function for hair styling per day is Q=180 minus 10P, where P is in dollars
The marginal cost function of all the small salons together is SMCf = 4+ 0.1Q
and the marginal cost function of the dominant or leading salong is MCl= 7+0.1Q

a) Draw a figure showing Dt, SMCf, MCl, Dl, MRt, MRl and the horizontal summation of SMCf and MCl

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This posting depicts Dt, SMCf, MCl, Dl, MRt, MRl and the horizontal summation of SMCf and MCl.

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MC Function

In Bayonne, NJ there is a large beauty salon and a number of smaller ones.
The total demand function for hair styling per day is Q=180 - 10P, where P is in ...

Purchase this Solution
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