For the total cost function , find marginal cost function.
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CUET-PG 2022 Question 51: Costs of production
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For the total cost function C = 1000 + 120x + 14x² + x³, find marginal cost function. (A) 1000 + x + 14x² + 3x (B) 120 + 28x + 3x² (C) 28x + 3x² (D) 120x² + 14x³ + x⁴
Also written as: For the total cost function C = 1000 + 120x + 14x^2 + x^3, find marginal cost function.
Costs of production has come up 83 times in 7 exams since 2006.
What this question tests
This question is on Deriving cost functions and cost curves, part of Costs of production in Microeconomics.
Working out cost curves from a cost function, a production function or a marginal cost schedule.
TestStop has 20 past-paper questions on this subtopic; the nearest in year are below.
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Question from the CUET-PG 2022 paper. Solutions are TestStop's own. Not affiliated with or endorsed by any examination authority.