00:01
Hello students, we are given a question.
00:02
We are given a demand function and total cost function.
00:05
We need to calculate marginal cost and marginal revenue.
00:09
So here, first of all, we are supposed to know that what we are given, total cost is given as 10 plus 20 cube.
00:18
Okay, we can, we need to understand here that the marginal cost is nothing but the differentiation of total cost.
00:25
So we can write mc is equals to dc divided by d cube.
00:30
So it will be mc can be written as its derivation is nothing but equal to 20.
00:35
Okay.
00:36
Now we will go to the demand function.
00:38
P is given as p of q is given as 50.
00:46
Sorry, 500 minus 2 cube.
00:48
Okay, students.
00:50
In order to find marginal revenue, first of all, we need to find the total revenue...