Purchase Solution

the marginal cost function

Not what you're looking for?

Ask Custom Question

The marginal cost function of a product, in dollars per unit, is Câ??(q)= q^2-50q+700. If fixed costs are $500, find the total cost to produce 50 items.

Purchase this Solution
Solution Summary

This solution fully clarifies the marginal cost function of a given product.

Solution Preview

** Please see the attached file for the complete solution response **

The marginal cost function of a product, in dollars per unit, is C'(q)= q^2-50q+700. If fixed costs are $500, find the total cost to produce 50 items.

Do I take the derivative at ...

Purchase this Solution
Free BrainMass Quizzes
Geometry - Real Life Application Problems

Understanding of how geometry applies to in real-world contexts

Exponential Expressions

In this quiz, you will have a chance to practice basic terminology of exponential expressions and how to evaluate them.

Solving quadratic inequalities

This quiz test you on how well you are familiar with solving quadratic inequalities.

Multiplying Complex Numbers

This is a short quiz to check your understanding of multiplication of complex numbers in rectangular form.

Graphs and Functions

This quiz helps you easily identify a function and test your understanding of ranges, domains , function inverses and transformations.

View More Free Quizzes
Related BrainMass Solutions

  • determine the cost function by integral

    The marginal cost (MC) function is expressed as the derivative of the total cost (TC) function with respect to quantity so the total cost is the integral of marginal cost Determine the cost function C(x) that corresponds to the marginal cost and

  • Characteristics of cost functions: fixed, variable, average and marginal

    The marginal cost function takes on its minimum value when dMC/dQ = 0 (derivative of the marginal cost function with respect to Q = 0) dMC/dQ = -18 + 1.5 * Q = 0 Q = 12 When Q = 12 the marginal cost function takes on its minimum value.

  • Cost functions

    to the average cost function, with decreasing scale of return the marginal cost function is lower than the average cost function and with increasing return to scale, the marginal cost curve rise upwards and above the minimum of the average total cost

  • Short-Run Production and Marginal Revenue and Factor Costs

    For optimal value of L, Put Marginal Revenue Product=Marginal Factor Cost 100-10L=20 10L=80 L=8 Profits will be maximized at L=8 This solution determines the marginal revenue production function, the marginal factor cost function and the optimal

  • Deriving marginal cost function using first order derivative

    Determine the marginal cost function.

  • Demand, Supply, Cost, Average Cost and Marginal Cost

    180877 Demand, Supply, Cost, Average Cost and Marginal Cost The market demand function of a firm is given by 8P + Q - 64 = 0, and the firm's average cost function takes the form AC = 8/Q + 6 - 0.4Q + 0.08Q2.

  • Determining Cost Estimating Function

    (Hint: It includes the cost of producing the product and fixed cost.) (b) Find the marginal cost function Cm for producing the product. (c) Find the number of product for minimum marginal cost. What is the marginal cost at this point?

  • Integrals: Cost function and Marginal Cost

    5561 Integrals: Cost function and Marginal Cost Given ist the following cost function: k(x)=x^3-9x^2+29x+35 x= quantity k= cost Question 1: At what quantity is the minimum of the marginal cost?

  • Integrals, Marginal Cost Function and Marginal Profit

    52005 Integrals, Marginal Cost Function and Marginal Profit The marginal cost function of producing q mountain bikes is a) If the fixed cost in producing the bicycles is $2000, find the total cost to produce 30 bicycles b) If the bikes are sold for

View More Related Solutions