Question
A firm has a cost function given by $c(y)=10 y^{2}+1000 .$ What is its supply curve?
Step 1
The marginal cost is the derivative of the cost function with respect to output (y). So, we have: MC(y) = d(c(y))/dy = d(10y^2 + 1000)/dy = 20y Show more…
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