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Question 29 (Mandatory) (2 points) ? Saved Use the following demand and supply functions for the market of sports shoes (the demand will be measured in pairs): $Q^d = 30 - (1/3)P$ $Q^s = (2/3)P - 6$ What's the marginal cost of producing the 6th pair of sports shoes? $1.50 $6 $18 $30

          Question 29 (Mandatory) (2 points)
? Saved
Use the following demand and supply functions for the market of sports shoes (the
demand will be measured in pairs):
$Q^d = 30 - (1/3)P$
$Q^s = (2/3)P - 6$
What's the marginal cost of producing the 6th pair of sports shoes?
$1.50
$6
$18
$30

Question 29 (Mandatory) (2 points)
? Saved
Use the following demand and supply functions for the market of sports shoes (the
demand will be measured in pairs):
Q^d = 30 - (1/3)P
Q^s = (2/3)P - 6
What's the marginal cost of producing the 6th pair of sports shoes?
1.506
1830

Added by Antonia B.

Principles of Economics

Gregory Mankiw 8th Edition

Instant Answer

Solved by Expert James Kiss

Step 1

First, we set the demand and supply functions equal to each other to find the equilibrium price: 30 - (1/3)P = (2/3)P - 6 Show more…

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Use the following demand and supply functions for the market of sports shoes (the demand will be measured in pairs): Q = 30 - (1/3)P and Q = (2/3)P - 6. What's the marginal cost of producing the 6th pair of sports shoes? $1.50 $6 $18 $30