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14 November, 19:28

For the cost function, find the marginal cost at the given production level x. State the units of measurement. (All costs are in dollars.)

C (x) = 15,000 + 70x + 1,000/x; x = 100

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  1. 14 November, 19:34
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    C (x) = 15,000 + 70 x + 1,000 / x

    C ' (x) = 70 - 1,000 / x²; x = 100

    C ' (100) = 70 - 1,000 / 10,000 = 70 - 0.1 = 69.9

    Answer:

    The marginal costs at given production level are $69.9.
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