Question

For the cost function below, where c is the cost of producing q units of a product, find the marginal-cost function. What is the marginal cost at the given values of q? C(q) = 2002 - 99 +8;q=3, q=8, and q=11 c'(q) =( (Simplify your answer.) c'(3) = (Simplify your answer.) c'(8) =( (Simplify your answer.) c'(11)=[ (Simplify your answer.) 1/23/2020

Answer 1

We are given the Total cost function:

MC function is the 1st differential of the above equation w.r.t. q

$\frac{\partial (20q^2 -9q+8 )}{\partial q}= c'(q)$

now we replace q with 3, 8 and 11 to find the MC in each case:

$c'(3) = 40 \times 3-9 = 111$

$c'(8) = 40 \times 8-9 = 311$

$c'(11) = 40 \times 11-9 = 431$