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+--- Thread: Question on microeconomics (/Thread-Question-on-microeconomics)
Question on microeconomics - FishNDip - 06-17-2019
Hello, So I'm not sure if this is the right place to ask this, but I'm doing Microeconomics and I'm trying to find Marginal Cost. The formula Modern States gives me is MC=(TC2-TC1)/(Q2-Q1) They tell me to fill out MC and I do it, but I'm getting 0.25 for the first answer instead of 1.25 and 0.5 for the second answer instead of 2.5. (Please view attachment for more info.)
Confused, I go looked up a khan Academy Video,
https://www.khanacademy.org/economics-finance-domain/microeconomics/firm-economic-profit/average-costs-margin-rev/v/marginal-cost-and-average-total-cost
I use the Formula Modern States gives me, and bingo! It works there, however I keep getting the wrong answers on Modern States.
Is Modern States wrong? Am I doing something wrong? Thanks for the help!
RE: Question on microeconomics - TheMaskedMutant - 06-18-2019
(06-17-2019, 06:52 PM)FishNDip Wrote: Hello, So I'm not sure if this is the right place to ask this, but I'm doing Microeconomics and I'm trying to find Marginal Cost. The formula Modern States gives me is MC=(TC2-TC1)/(Q2-Q1) They tell me to fill out MC and I do it, but I'm getting 0.25 for the first answer instead of 1.25 and 0.5 for the second answer instead of 2.5. (Please view attachment for more info.)
Confused, I go looked up a khan Academy Video,
https://www.khanacademy.org/economics-finance-domain/microeconomics/firm-economic-profit/average-costs-margin-rev/v/marginal-cost-and-average-total-cost
I use the Formula Modern States gives me, and bingo! It works there, however I keep getting the wrong answers on Modern States.
Is Modern States wrong? Am I doing something wrong? Thanks for the help!
It looks like Modern States is wrong.
The AVC, ATC and MC for outputs 200 and 250 are incorrect as well.
RE: Question on microeconomics - FishNDip - 06-18-2019
(06-18-2019, 03:52 AM)TheMaskedMutant Wrote:(06-17-2019, 06:52 PM)FishNDip Wrote: Hello, So I'm not sure if this is the right place to ask this, but I'm doing Microeconomics and I'm trying to find Marginal Cost. The formula Modern States gives me is MC=(TC2-TC1)/(Q2-Q1) They tell me to fill out MC and I do it, but I'm getting 0.25 for the first answer instead of 1.25 and 0.5 for the second answer instead of 2.5. (Please view attachment for more info.)
Confused, I go looked up a khan Academy Video,
https://www.khanacademy.org/economics-finance-domain/microeconomics/firm-economic-profit/average-costs-margin-rev/v/marginal-cost-and-average-total-cost
I use the Formula Modern States gives me, and bingo! It works there, however I keep getting the wrong answers on Modern States.
Is Modern States wrong? Am I doing something wrong? Thanks for the help!
It looks like Modern States is wrong.
The AVC, ATC and MC for outputs 200 and 250 are incorrect as well.
Thank you! Needed a second opinion.
Question on microeconomics - alab21 - 06-18-2019
(06-18-2019, 07:38 AM)FishNDip Wrote:(06-18-2019, 03:52 AM)TheMaskedMutant Wrote:(06-17-2019, 06:52 PM)FishNDip Wrote: Hello, So I'm not sure if this is the right place to ask this, but I'm doing Microeconomics and I'm trying to find Marginal Cost. The formula Modern States gives me is MC=(TC2-TC1)/(Q2-Q1) They tell me to fill out MC and I do it, but I'm getting 0.25 for the first answer instead of 1.25 and 0.5 for the second answer instead of 2.5. (Please view attachment for more info.)
Confused, I go looked up a khan Academy Video,
https://www.khanacademy.org/economics-finance-domain/microeconomics/firm-economic-profit/average-costs-margin-rev/v/marginal-cost-and-average-total-cost
I use the Formula Modern States gives me, and bingo! It works there, however I keep getting the wrong answers on Modern States.
Is Modern States wrong? Am I doing something wrong? Thanks for the help!
It looks like Modern States is wrong.
The AVC, ATC and MC for outputs 200 and 250 are incorrect as well.
Thank you! Needed a second opinion.
Please comment on Modern States “discussion” for that lesson, so they and others know it’s wrong. Maybe they’ll fix it, but if nothing else, others can see the correct answer.
whenever I question something in their course, I check to see what others said. Sent from my iPhone using DegreeForum.net
RE: Question on microeconomics - FishNDip - 06-18-2019
[quote pid='290409' dateline='1560868641']
Please comment on Modern States “discussion” for that lesson, so they and others know it’s wrong. Maybe they’ll fix it, but if nothing else, others can see the correct answer.
whenever I question something in their course, I check to see what others said. Sent from my iPhone using DegreeForum.net
[/quote]
Where is that exactly on the forums?
Question on microeconomics - alab21 - 06-20-2019
(06-18-2019, 12:20 PM)FishNDip Wrote: [quote pid='290409' dateline='1560868641']
Please comment on Modern States “discussion” for that lesson, so they and others know it’s wrong. Maybe they’ll fix it, but if nothing else, others can see the correct answer.
Sent from my iPhone using DegreeForum.net
Where is that exactly on the forums?
[/quote]
On the Modern States modules they have a button for “discussion”. I suggest commenting on the appropriate section. Modern States may see it, and other students might also.
Sent from my iPhone using DegreeForum.net