00:01
Hi, here we have a question.
00:04
It's difficult to read it.
00:07
So what i think it says is that we have this cost function, producing some kind of product.
00:13
Q is the represents the number of units produced, and for the number of units produce q, this is the cost.
00:22
And so, and what we want to find is what is the cost of producing 25 units, and what is the marginal? cost of producing 25 units and give an economic interpretation.
00:36
So to find the cost of producing 25 units simply wherever you take the cost function, this is the cost function and whenever you have q, you're going to plug 30, you're going to plug 25 and use your calculator.
00:53
So wherever you have q you plug 25.
00:56
So this is times 25.
00:58
It is the exponential to the 0 .003 times 25 and use your calculator to calculate this number and plus all of these things.
01:13
Now for the marginal cost we have to find to find the marginal cost of producing 25 we need to find the derivative of the cost function first.
01:24
The derivative of the cost function is 35 times.
01:29
Times 0 .003 times e to the 0 .003 q.
01:40
And this is, you just take your calculator, 35 times 0 .003.
01:49
This is 0 .105 e to the 0 .105 e to the 0 .003.
02:00
Q this is the marginal cost this is the margin oops the marginal cost and now what's how you are going to find the marginal cost of producing 25 simply take this formula over here that we found and plug wherever we have q wherever we have q plug 25 so this going to be 0 .105 e to the 0 .105 e to the 0 .0...