Question #2001933: Other Economics Problems

Question: According to a statistical study, the following relationship exists between an electric light and power plant’s fuel costs (C) and its eight-hour output as a percent of capacity (Q):

C = 16.68 + 0.125Q + 0.00439Q2

a) When Q increases from 50 to 51, what is the increase in the cost of fuel for this electric plant?

b) What is the marginal fuel cost curve for this plant, MC = ?

c) What is the marginal cost of at Q=50?

Solution: The solution consists of 119 words (1 page)
Deliverables: Word Document

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