Marginal Cost Function - Which Chart
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