Imagine that we have a firm with a convex cost function, like Beautiful Cars . You would like to know the marginal cost at exactly Q = 20. Which TWO answers are correct?

Question

Imagine that we have a firm with a convex cost function, like  Beautiful Cars . You would like to know the marginal cost at exactly Q = 20. Which TWO answers are correct?

Answer

The discrete marginal cost of going from Q = 19 to Q = 20 will be an overestimate.

Answer

The discrete marginal cost of going from Q = 19 to Q = 20 will be an underestimate.

Answer

The discrete marginal cost of going from Q = 20 to Q = 21 will be an overestimate.

Answer

The discrete marginal cost of going from Q = 20 to Q = 21 will be an underestimate.

Crowdly

Imagine that we have a firm with a convex cost function, like Beautiful Cars . ...

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