For the cost function C(Q)= 500 + 12Q + 4Q² + Q³,what is the marginal cost of producing the eighth unit of output? A) $184 B) $268 C) $524 D) $852

Question

Quizplus · Accepted Answer

The marginal cost can be found by taking the derivative of the cost function with respect to Q, which is: MC = 12 + 4² + ³ To find the marginal cost of producing the eighth unit, we simply plug in Q = 8: MC = 12 + 4(8) + 13 = $48 + $104 = $152 Therefore, the best choice is B because it is the closest option to $152.

For the Cost Function C(Q)= 500 + 12Q + 4Q2

For the Cost Function C(Q)= 500 + 12Q + 4Q²