Calculate a total cost function

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Reference no: EM1371970

1. Calculate a total cost function of transport services (e.g. road freight) as a function of volume of production. How you can derive now the average cost and the marginal cost of production?
Why it is important to know and to be able to formulate average and marginal cost functions when we are interested in evaluating the natural monopoly?

TC = 300Q + 10000

Derives AC and MC

Reference no: EM1371970

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