t TransitionsAnimations Slide Show Review Search in Present

t TransitionsAnimations Slide Show Review Search in Present Font - ? lla , . Text Picture Shape Media Arrange Quick Styles Shape tline PRACTICE EXAM QUESTION #14 Given a cost function C(0)-400+180+6012, what is the marginal cost function? a. 18+12Q b. 18+12Q2 c. 400+ 6Q2. d. 18Q+6Q2 Side 30 of 30 Normal view

Solution

To find the value: Differentiate, and, find the value at x = 100

Differentiating with respect to Q

18 + 6*2*Q

18 + 12 Q

Cost functions forecast production expenses

This helps in determining pricing strategies.

Marginal cost - Change in total production cost for a unit increase in output.