Chapter 14.3, Problem 11E

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11th Edition

Ronald J. Harshbarger + 1 other

ISBN: 9781305108042

Textbook Problem

Suppose that the joint cost function for two products is

Find the marginal cost with respect to (a) *x.* (b) *y.*

**(a)**

To determine

**To calculate:** The marginal cost with respect to *x* if the joint cost function for two products is represented by

Explanation

**Given Information:**

The joint cost function for the two products is

**Formula used:**

For a joint cost function, of the form *x* is given by *y* is given by

For a function *f* with respect to *x* is calculated by taking the derivative of *x* and keeping the other variable *y* constant. The partial derivative of *f* with respect to *x* is denoted by

A derivative of a natural logarithmic function,

If

Chain rule for the function

Power of

Constant function rule for a constant

**(b)**

To determine

**To calculate:** The marginal cost with respect to *y* if the joint cost function for two products is represented by

Sect-14.1 P-1CPSect-14.1 P-1ESect-14.1 P-2ESect-14.1 P-3ESect-14.1 P-4ESect-14.1 P-5ESect-14.1 P-6ESect-14.1 P-7ESect-14.1 P-8ESect-14.1 P-9E

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