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The total cost C(x) of a firm is $C(x) = 0.0005x^3 - 0.7x^2 - 30x + 3000$ where x is the output. Determine the marginal cost (MC). |
$MC=0.0005x^3−0.7x^2−30x+3000$ $MC=0.0015x^2−1.4x−30$ $MC=0.0015x^2−1.4x−30$ $MC=0.001x^2−1.4x−30$ |
$MC=0.0015x^2−1.4x−30$ |
The correct answer is Option (3) → $MC=0.0015x^2−1.4x−30$ Marginal cost (MC) = $\frac{d}{dx}(C(x)) =\frac{d}{dx}(0.0005x^3 -0.7x^2-30x + 3000)$ $= 0.0015x^2 - 1.4x-30$. |
