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

Question

Philoid · Accepted Answer

Given: Total Cost, C (x) = 0.007 x³ – 0.003x² + 15x + 4000

Where x = Number of units

Marginal Cost is given by,

Marginal Cost M(x) =

Therefore, M(x) = 0.007 × 3 x² – 0.003 × 2 x + 15

At Number of units = 17, x = 17.

So, M(17) = 0.021 (17)² – 0.006 (17) + 15

M(17) = 20.97

Hence, the Marginal Cost of 17 units is 20.97.

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

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