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Optimization Through Marginal
APPENDIX 2B Some Basic Applied Calculus
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advertising algebraic allocated assume average cost average variable cost Big Sky Foods calculated capital cartel cash flows chapter coefficient competitive market constant constraints consumers cost function cost-plus pricing decreasing demand curve demand function derivative determined dollars dummy variables economic profit equal equation estimate evaluate example Explain factors firm's fixed costs given graphed in Figure income increase independent variables industry inputs isocost isoquant level of output linear programming long-run marginal cost marginal cost function marginal product marginal revenue market demand market share monopolistically competitive monopoly negative objective function optimal outcomes percent perfectly competitive present value price discrimination price elasticity problem production function purchase quantity quarter regression analysis regression model regulation relationship represents returns to scale revenue function risk seasonal sell simulation situation slope statistical t-ratios Table tion total revenue trend units of labor units of output widget