ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Question
Total cost function is given as:-
3Q4 -5Q3 + 2Q2 + 16Q
Calculate the marginal cost function
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- If C = 0.0001Q2 + 3Q + 6000 is a total-cost function, find the marginal cost when Q = 100.arrow_forwardFor the given cost function C'(x) = 78400 + 200x + x², First, find the average cost function. Use it to find: a) The production level that will minimize the average cost X = b) The minimal average cost $arrow_forwardThe marginal cost function is given as:- MC = 7Q2 - 80 The quantity is given as 6 units Calculate the marginal cost for the 6th unitarrow_forward
- Find the average cost function if cost and revenue are given by C(x) = 170 + 3.6x and R(x) = 5x - 0.01x. The average cost function is C(x) =.arrow_forwardFor the given cost function C(x) = 40000 + 700x + x² find: a) The cost at the production level 1700 b) The average cost at the production level 1700 c) The marginal cost at the production level 1700 d) The production level that will minimize the average cost e) The minimal average costarrow_forwardReferring to the cost table above, what is the Marginal Cost of increasing quantity produced from 400 to 500 units?arrow_forward
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