Robert8755 Robert8755

02-06-2023
Business

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Consider the following total cost function for Firm A: TC(Q)=4Q3-12Q2+2Q+1,000,000.
Calculate the MC function of the firm.
Does this cost function satisfy the law of diminishing returns?
Hint: The law of diminishing returns suggests that after some point, marginal cost will increase as the firm increases production.

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