For the cost function C(Q)= 1000 + 14Q + 9Q² + 3Q³,what is the marginal cost of producing the fourth unit of output? A) $42 B) $295 C) $230 D) $116

Question

Quizplus · Accepted Answer

To find the marginal cost, we need to take the derivative of the cost function with respect to Q. C'(Q) = 14 + 9² + 3³ Plugging in Q = 4, we get: C'(4) = 14 + 9(1)(2) + 3(1)(3) = 14 + 18 + 9 = 41 Therefore, the marginal cost of producing the fourth unit of output is $41, which is closest to option C) $230.

For the Cost Function C(Q)= 1000 + 14Q + 9Q2

For the Cost Function C(Q)= 1000 + 14Q + 9Q²