MIC | MCQs

Explanation

• To find the marginal cost (MC), you need to take the derivative of the cost function with respect to quantity (Q).
• Given cost function: C(Q) = 2Q^2 + 10Q + 50

Take the derivative of C(Q) with respect to Q:

• MC(Q) = dC/dd = 4Q + 10

Now, plug in the value Q = 5:

• MC(5) = 4(5) + 10 = 20 + 10 = $30.

Explanation

Total revenue equals price times quantity.

Explanation

Given own price elasticity equal to -2.5 implies that if the price of the good increases by Rs. 10, then the quantity demanded of the good Will decrease by 25% of initial quantity.

Explanation

When both the demand and supply curves shift to the right due to any reason, the quantity traded increases for sure, but nothing specific can be said about prices.

Explanation

A profit-maximizing firm under perfect competition will produce where marginal cost (MC) equals marginal revenue (MR), which occurs where marginal product (MP) is diminishing.

Explanation

Michelangelo completed the Sistine Chapel in 1512.

Its importance in the history of art cannot be overstated.

The Sistine Chapel is a chapel in the Apostolic Palace, the pope's official residence in Vatican City.]

Michelangelo di Lodovico Buonarroti Simoni, known as Michelangelo, was an Italian sculptor, painter, architect, and poet of the High Renaissance

Born: March 6, 1475, Caprese Michelangelo, Italy

Died: February 18, 1564, Rome, Italy

Explanation

 Microsoft package include Full Office desktop apps such as Word, PowerPoint, Excel, Outlook, Publisher and Access for Windows PCs, as well as access to additional OneNote features.

Explanation

The formatting and Drawing toolbar is a toolbar in Microsoft Office 2003 and earlier applications, that gives the user the ability to change the formatting of selected text or cell.

Explanation

Data sheet can not be a sheet in workbook.

Explanation

To removes a sheet from workbook select the sheet, then choose Edit > Delete Sheet these options available in excel 2003 and earlier version.