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Find the marginal cost and the place where the total cost is minimal. Solution. Di erentiate C0 = 10 + 0:02x Now nd x which makes this vanish. We have x = 50. Example: You sell spring water. The marginal cost to produce it is given by f(x) = 10000 x4. For which x is the total cost maximal?
This calculus video tutorial provides a basic introduction into marginal cost and average cost. The marginal cost function is the first derivative of the to...
4 kwi 2023 · We will revisit finding the maximum and/or minimum function value and we will define the marginal cost function, the average cost, the revenue function, the marginal revenue function and the marginal profit function.
The following theorem tells that the marginal cost is equal to the average cost if and only if the average cost has a critical point. Since total costs are typically concave up, we usually have ”break even points are minima for the average cost”. Since the strawberry story illustrates it well, lets call it the ”strawberry theorem”:
In economics, the idea of marginal cost can be nicely captured with the derivative. Created by Sal Khan.Watch the next lesson: https://www.khanacademy.org/ma...
In this video we calculate the costs of producing a good, including fixed costs, variable costs, marginal cost, average variable cost, average fixed cost, and average total cost.
Khan Academy
