Q.3: the function describing the marginal cost (in dollars) of producing a product is MC = 8ßx +800N Where x equals the no of units produced. It is known that cost equals $70000 when 45 units are produced. Determine the total cos function.

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A:

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Rate of Change

The relation between two quantities which displays how much greater one quantity is than another is called ratio.

Slope

The change in the vertical distances is known as the rise and the change in the horizontal distances is known as the run. So, the rise divided by run is nothing but a slope value. It is calculated with simple algebraic equations as: