**Problem:**If the total cost function is given by \[ C(q) = -0.00002q^2 + 6.5q + 5400, \]find the **marginal cost** when $ q = 7000 $.**Explanation:**To find the marginal cost, we need to calculate the derivative of the total cost function $ C(q) $ with respect to $ q $. The derivative $ C'(q) $ will give us the rate of change of the total cost with respect to the quantity $ q $. After finding $ C'(q) $, we substitute $ q = 7000 $ to find the marginal cost at that specific quantity.

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Answered: 2.) If the total cost function is given…

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2.) If the total cost function is given by C(q) = -0.00002q? + 6.5q + 5400, find the marginal cost when q = 7000.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

**Problem:**

If the total cost function is given by

\[ C(q) = -0.00002q^2 + 6.5q + 5400, \]

find the **marginal cost** when $ q = 7000 $.

**Explanation:**

To find the marginal cost, we need to calculate the derivative of the total cost function $ C(q) $ with respect to $ q $. The derivative $ C'(q) $ will give us the rate of change of the total cost with respect to the quantity $ q $. After finding $ C'(q) $, we substitute $ q = 7000 $ to find the marginal cost at that specific quantity.

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