Question

The cost to produce q items is C(q)=1300+2q2 dollars. Find the marginal cost of producing the 12th item. Interpret your answer in terms of costs.

Answer 1

Answer: Marginal cost = $46

The cost of production increases by about $46 when one additional unit is produced.

Step-by-step explanation:

Given : The cost to produce q items is $C(q)=1300+2q^2$ dollars.

$C(12)=1300+2(12)^2=1588\\\\ C(11)=1300+2(11)^2=1542$

The marginal cost of producing the 12th item= C(12)-C(11)

=1588-1542=46

Interpretation : It means , the cost of production increases by about $46 when one additional unit is produced.