QUESTION 32 The long-run cost function for Ron's Bike Rentals is: C(q) = 6q^2 (q-squared). What...

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QUESTION 32 The long-run cost function for Ron's Bike Rentals is: C(q) = 6q^2 (q-squared). What...

QUESTION 32 The long-run cost function for Ron's Bike Rentals is: C(q) = 6q^2 (q-squared). What is marginal cost? A) MC=12q B)MC=6q C)MC cannot be determined without MR D)12

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Answer 1

Answer #1

Ans) the correct option is A) MC=12q

In order to find MC, differentiate the cost function with respect to q

dC/dq = 6*2q = 12q

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Answer 2

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