Reply to thread

Message: <blockquote data-quote="Mal Aiyya" data-source="post: 7308614" data-attributes="member: 81650">Its like this, if this production function was linear, then we would have got the MC exactly because it is the same at every point. When you differentiate and get a value, it is the difference from 9.999999999999.... to the 10th point. That is mathematically therefore correct. But in economics, businessemen need change from unit to unit as there is no part of a unit produced or anything. So our method of finding MC is from the 9th to 10th unit Only. The method that gives us 409 is known as mid-point formula method, where we simply find the linear change from two distant points, but when you draw a curve, the change to the 10th point is not from 9, but from 9.9999999999...(recurring); this method is known as Arc gradient. Get it?</blockquote>

Top Bottom