Question

Compute total, Average and average variable costs for the marginal cost function $c=4 + 7x - 5x^{2}$ , if the total fixed cost is 40.

Answer 1

Whereas economic development is a policy intervention endeavor with aims of improving the economic and social well-being of people, economic growth is a phenomenon of market productivity and rise in GDP. Consequently, as economist Amartya Sen points out, "economic growth is one aspect of the process of economic development".