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Question
The total cost C (x) associated with the production of x units of an item is given by C (x) = 0.007x3 − 0.003x2 + 15x + 4000. Find the marginal cost when 17 units are produced ?
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Solution
Since the marginal cost is the rate of change of total cost with respect to its output,
Marginal Cost (MC) =
When x = 17,
Marginal Cost (MC) =
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