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    Marginal Cost Schedule and Outputs

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    Suppose that the firm's cost function is given in the following schedule (where Q is the level of output).

    Output

    Q (units) Total Cost
    0 7
    1 25
    2 37
    3 45
    4 50
    5 53
    6 58
    7 66
    8 78
    9 96
    10 124

    Determine the:

    (a) Marginal cost schedule

    (b) What is the fixed cost of production

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    https://brainmass.com/economics/short-and-long-run-cost-functions/marginal-cost-schedule-outputs-322045

    Solution Preview

    Fixed cost is $7 because when Q = 0, P = 7.

    Marginal cost

    Q TC ...

    Solution Summary

    The expert examines marginal cost schedule and outputs.

    $2.19