Explore BrainMass

Explore BrainMass

    Integrals: Cost function and Marginal Cost

    Not what you're looking for? Search our solutions OR ask your own Custom question.

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Given ist the following cost function:


    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)?

    © BrainMass Inc. brainmass.com November 24, 2022, 11:33 am ad1c9bdddf

    Solution Preview

    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 ...

    Solution Summary

    A function is used to calculate marginal cost.