The total cost C(x) in Rupees associated with the production of x units of an item is given by C(x) = 0.007x 3 – 0.003x 2 + 15x + 4000. Find the marginal cost when 17 units are produced.

Question

Philoid · Accepted Answer

Marginal cost (MC) is the rate of change of total cost with respect to output.

Then,

= 0.021x² – 0.006x +15

So, when x = 17 then,

MC = 0.021(17²) – 0.006(17) +15

= 0.021(289) – 0.102 + 15

= 20.967

Therefore, the marginal cost when 17 units are produced is Rs. 20.967.

The total cost C(x) in Rupees associated with the production of x units of an item is given byC(x) = 0.007x3 – 0.003x2 + 15x + 4000.Find the marginal cost when 17 units are produced.

The total cost C(x) in Rupees associated with the production of x units of an item is given by
C(x) = 0.007x³ – 0.003x² + 15x + 4000.

Find the marginal cost when 17 units are produced.