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microeconomics problems , please solve it for me thank you. If you have any additional information just let me know. It shouldn't take too long. You can solve those on a piece of paper and then just provide me with the solution can send it ether to me as an email or take picture and attach it here.
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Explanation & Answer
Hi,I wrote the solution in docs file.
QUIZ 8 (100 Points) 100 points per problem
Class Time: due on 11/17/16
Name:
ID:
(USE A PEN) SHOW ALL FORMULAS AND CALCULATIONS FOR FULL POINTS
1.
Credit Check, Inc., offers credit checking services to credit card companies and retailers. The
following relation exists between the number of credit checks performed and total costs in this
viciously competitive market:
Total
Output
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
A.
Total
Cost
$ 150
600
1,060
1,540
2,040
2,565
3,115
3,750
Construct a table showing the marginal cost of production.
Marginal Cost is calculated by finding the difference between the current and previous value of total
cost.
Marginal Cost at output 1000 ,600-150 = $450
Output,2000, MC =$1060-600 =$460
Output =3000,MC = $1540 -$1...