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Finding the Marginal Cost

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If the cost function for a commodity is:

C(x) = (1/90)x^3 + 4x^2 + 4x + 10 dollars

Find the marginal cost at x= 3 units and tell what this predicts about the cost of producing 1 additional unit and 2 additional units.

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Solution Summary

Provides steps necessary to find the marginal cost.

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mc = c'(x) = (1/30)x^2 + 8x + 4

mc at x = 3 is (1/30)(3)^2 + 8(3) + 4 = 28.3, this ...

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