C(x) = 60 + x² dollars. %3D (a) Find the marginal cost at x = 4 units. MC(4) = Tell what this predicts about the cost of producing 1 additional unit. The cost to produce the 5th unit is predicted to be $ (b) Calculate C(5) – C(4) to find the actual cost of producing 1 additional unit. %24

C(x) = 60 + x² dollars. %3D (a) Find the marginal cost at x = 4 units. MC(4) = Tell what this predicts about the cost of producing 1 additional unit. The cost to produce the 5th unit is predicted to be $ (b) Calculate C(5) – C(4) to find the actual cost of producing 1 additional unit. %24

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

Suppose that the cost function for a commodity is
C(x) = 60 + x² dollars.
%3D
(a) Find the marginal cost at x = 4 units.
MC(4) =
%3D
Tell what this predicts about the cost of producing 1 additional unit.
The cost to produce the 5th unit is predicted to be $
(b) Calculate C(5) – C(4) to find the actual cost of producing 1 additional unit.
$4

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