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The total cost P(x) in rupees associated with a product is given by P(x)=0.4x2+2x-10. Find the marginal cost if the no. of units produced is 5.
- a)Rs.3
- b)Rs.4
- c)Rs.5
- d)Rs.6
Correct answer is option 'D'. Can you explain this answer?
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Most Upvoted Answer
The total cost P(x) in rupees associated with a product is given by P(...
The Marginal cost is the rate of change of revenue w.r.t the no. of units produced, we get
= 0.8x+2
cost(MC)=
=0.8x+2=0.8(5)+2=4+2=6.
= 0.8x+2cost(MC)=
=0.8x+2=0.8(5)+2=4+2=6.Free Test
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Community Answer
The total cost P(x) in rupees associated with a product is given by P(...
Given information:
The total cost of a product is given by the equation P(x) = 0.4x^2 + 2x - 10, where x represents the number of units produced.
To find:
The marginal cost when the number of units produced is 5.
Solution:
Step 1: Find the derivative of the cost function to obtain the marginal cost function.
The marginal cost represents the rate of change of the cost with respect to the number of units produced. It can be calculated by taking the derivative of the total cost function with respect to x.
Given: P(x) = 0.4x^2 + 2x - 10
To find the derivative, differentiate each term of the function with respect to x:
dP(x)/dx = d(0.4x^2)/dx + d(2x)/dx - d(10)/dx
= 0.8x + 2 - 0
= 0.8x + 2
The derivative of the total cost function is the marginal cost function: MC(x) = 0.8x + 2
Step 2: Substitute x = 5 into the marginal cost function to find the marginal cost when 5 units are produced.
MC(x) = 0.8x + 2
MC(5) = 0.8(5) + 2
= 4 + 2
= 6
Therefore, the marginal cost when 5 units are produced is Rs. 6.
Answer:
The correct answer is option 'D', Rs. 6.
The total cost of a product is given by the equation P(x) = 0.4x^2 + 2x - 10, where x represents the number of units produced.
To find:
The marginal cost when the number of units produced is 5.
Solution:
Step 1: Find the derivative of the cost function to obtain the marginal cost function.
The marginal cost represents the rate of change of the cost with respect to the number of units produced. It can be calculated by taking the derivative of the total cost function with respect to x.
Given: P(x) = 0.4x^2 + 2x - 10
To find the derivative, differentiate each term of the function with respect to x:
dP(x)/dx = d(0.4x^2)/dx + d(2x)/dx - d(10)/dx
= 0.8x + 2 - 0
= 0.8x + 2
The derivative of the total cost function is the marginal cost function: MC(x) = 0.8x + 2
Step 2: Substitute x = 5 into the marginal cost function to find the marginal cost when 5 units are produced.
MC(x) = 0.8x + 2
MC(5) = 0.8(5) + 2
= 4 + 2
= 6
Therefore, the marginal cost when 5 units are produced is Rs. 6.
Answer:
The correct answer is option 'D', Rs. 6.
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The total cost P(x) in rupees associated with a product is given by P(x)=0.4x2+2x-10. Find the marginal cost if the no. of units produced is 5.a)Rs.3b)Rs.4c)Rs.5d)Rs.6Correct answer is option 'D'. Can you explain this answer?
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