OR(b) Define (i) Marginal cost and (ii) Marginal revenue.The cost of producing x widgets is given by the followingcost function: C(x)=10x+100√x+10000. Determine themarginal cost, marginal revenue and marginal profit atx = 100 widgets.

(i) Marginal Cost Marginal Cost (MC) is the additional cost incurred by producing one more unit of a…

Answered: OR (b) Define (i) Marginal cost and…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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OR (b) Define (i) Marginal cost and (ii) Marginal revenue. The cost of producing x widgets is given by the following cost function: C(x)=10x+100√x+10000. Determine the marginal cost, marginal revenue and marginal profit at x = 100 widgets.