Integrals: Cost function and Marginal Cost
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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?
Question 2:
What is the increase of cost if the production is increased from 3 to 4 (integral)?
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Solution Summary
A function is used to calculate marginal cost.
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Question 1:
As we know the function of the marginal cost is the first derivative of k.Let we use m(x) denote the marginal cost function.So ...
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