a function of units produced x is C(x)=235+29x−0.05x^2. What is the cost to produce unit 16?What is the marginal cost at x=15?

Question

I am struggling to figure out how to answer this question, I know that I need to find the marginal cost but do not know how to derive that from the total cost function

Answer 1

C(x) = -0.05x² + 29x + 235

 

C(15) = cost of producing the first 15 units

C(16) = cost of producing the first 16 units

 

So, Cost of 16th unit = C(16) - C(15)

 

C'(15) = marginal cost when x is 15