The average cost per item to produce q items is given by a(q) = 0.3q2 -0.7 q + 11 for q>0. What is the marginal cost, MC, of producing q goods? (a) Find the Total Cost. (b) Find the marginal cost [derivative]

The average cost per item to produce q items is given by a(q) = 0.3q2 -0.7 q + 11 for q>0. What is the marginal cost, MC, of producing q goods? (a) Find the Total Cost. (b) Find the marginal cost [derivative]

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter7: Economies Of Scale And Scope

Section: Chapter Questions

Problem 6MC

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Question

The average cost per item to produce q items is given by

a(q) = 0.3q² -0.7 q + 11

for q>0.

What is the marginal cost, MC, of producing q goods?

(a) Find the Total Cost.

(b) Find the marginal cost [derivative]

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