TC = 80,000 + 10Q + 0.003Q2 find marginal value

Question

when TC = 80,000 + 10Q + 0.003Q²

then find step wise marginal value

Answer 1

TC(Q) = 80,000 + 10Q + 0.003Q²

 

MC(Q)

= d TC(Q) / dQ

= d [80,000 + 10Q + 0.003Q²] / dQ

= 10 + 2(0.003Q)

= 10 + 0.006Q

 

Marginal Cost as a function of Quantity = 10 + 0.006Q