# Assume company A is a monopoly with a total cost function given as __C(q) = 50357 + 10q__, with q...

## Question:

Assume company A is a monopoly with a total cost function given as **C(q) = 50357 + 10q**, with q representing quantity. Market inverse demand is given as **P = 2450 - 2q**.

Solve for marginal revenue, marginal cost, and average cost curves.

## Marginal Revenue and Marginal Cost:

The marginal revenue is the additional revenue that accrues when one more unit of a good or service is sold. The marginal cost of production is the incremental cost incurred when one more unit of a good or service is produced.

## Answer and Explanation: 1

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View this answerTotal Revenue Function:

{eq}TR = P \times Q \\ TR = (2450 - 2q) \times q \\ TR = 2450q - 2q^{2} {/eq}

The marginal revenue function is derived...

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Chapter 2 / Lesson 13Learn about marginal revenue and understand how to use the marginal revenue formula. See how to calculate marginal revenue and the impact of price and marginal cost.

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