Find the marginal cost at the given production level x and s
Find the marginal cost at the given production level x, and state the units of measurement.
c(x)=15,000+100x+1,000/x. ; x=100
Solution
the marginal cost is the derivative of the cost function
hence
m(x) [marginal cost] = 0 + 100 - 1000/x^2
since derivative of x^n = nx^(n-1)
plugging in x =100
0+100 -0.1
99.90
and
units are dollars per production-level-unit. (assuming cost is in dollars)
