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Explain the concept of marginal cost. How does it relate to cost? How is it found?

Marginal cost is defined as the rate of change of cost. The marginal cost at some level ofproduction $x$ is the cost to produce the $(x+1)$ th item.since the derivative of a function gives the rate of change of the function, the marginal cost (orrevenue, or profit) function is found by taking the derivative of the cost (or revenue, or profit)function.For example, if $C(x)=4 x^{2}+2$ represents the cost function, then $C^{\prime}(x)=8 x$ will represent themarginal cost.

Calculus 1 / AB

Calculus 3

Chapter 12

Calculating the Derivative

Section 1

Techniques for Finding Derivatives

Derivatives

Differentiation

Partial Derivatives

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12:15

In calculus, partial derivatives are derivatives of a function with respect to one or more of its arguments, where the other arguments are treated as constants. Partial derivatives contrast with total derivatives, which are derivatives of the total function with respect to all of its arguments.

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Explain the concept of mar…

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What is marginal cost? Why…

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How does fixed cost affect…

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Describe what fixed costs …

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So, given total cost, let's say that is see of X. We confined our marginal cost by taking the derivative of Segovax etc. Prime of X.

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