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A company's marginal cost function is MC=21x^4/3-6x^1/2+50, where x is the number of...

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jmg5639 | Student, Undergraduate | Honors

Posted July 3, 2013 at 2:47 AM via web

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A company's marginal cost function is MC=21x^4/3-6x^1/2+50, where x is the number of units, and fixed costs are $3000. Find the cost function. 

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justaguide | College Teacher | (Level 2) Distinguished Educator

Posted July 3, 2013 at 2:51 AM (Answer #1)

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The marginal cost function is the change in cost incurred for producing an additional unit.

MC = `21x^(4/3)-6x^(1/2)+50`

The cost function is `int MC dx`

= `int 21x^(4/3)-6x^(1/2)+50 dx`

= `9*x^(7/3)-4*x^(3/2)+50*x + C`

As the fixed cost is $3000, C = 3000

The cost function of the company is `9*x^(7/3)-4*x^(3/2)+50*x + 3000`

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