Suppose a firms average cost is r30 at 5 units of output, Ask an Expert

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Q. Suppose a firm's average cost is R30 at 5 units of output and R32 at 6 units of output. The marginal cost of producing the sixth unit is R42. Is it true or false?

Q. Linus has utility function u(x,y) = x + 2y. If the price of x is $1 and the price y is .50 cents then Linus must consume equal amounts of both goods in order to maximize his utility. True or False, justify your answer

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9284288

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