Marginal Cost

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lizzpalmer

Junior Member
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Jun 20, 2011
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I need to find the marginal cost. This is the information given in the problem:

Fixed cost is $2000; 36 units cost $8480

I already figured out the linear cost function to be: Cost = 180x + 2000

Which is basically c(x) = mx+b (I think)

Does that mean that the marginal cost is $180?

Thank you!
 
lizzpalmer said:
I need to find the marginal cost. This is the information given in the problem:

Fixed cost is $2000; 36 units cost $8480

I already figured out the linear cost function to be: Cost = 180x + 2000

Which is basically c(x) = mx+b (I think)

Does that mean that the marginal cost is $180?

Thank you!
Click to expand...
Yes IF YOU ARE SURE OF YOUR COST FUNCTION.

Of course if the problem tells you that the cost function is linear, that the fixed cost is 2000, and 36 units have a TOTAl cost of 8480, you do have the right cost function, but I can not be sure of that from the information given.
 
Yes I got help with the cost function on here in a different post! I think I have learned more from the forum than from my class!
 


If you don't mind sharing, I would like to know through which school you're taking this on-line course? I'm curious to know if it's one of the "big guys".

Also, did they provide you with any printed materials/textbook, or is everything given on-line?

 
I have a book - Mathmatics with Applications 10th Edition. That's where the problems I've been posting come from. He picks certain ones that don't have the answers in the back for us to do as homework. We have to participate in online discussion forums where we make up examples and solve them. Those ones I always understand. It seems like they are the easy ones we do, never the hard ones. I find the book doesn't break it down well enough to teach myself. You guys have been a lifesaver. He also has a lecture that is posted online. It's basically an exact copy of the things in the book with no further explaination. I might be a bit slow grasping these concepts but I can read - I don't need it given to me twice :)

The class is Mathmatics and Statistics 501 (Masters Class) at the University of Southern New Hampshire. It's the first class you have to take to take any of the other classes in my degree. I'm taking Operations and Program Management. I posted my answer on the f(x) problem too. I think I might actually understand but we will see when you look at it! Thanks again Lizz
 
Oh and by the way, I'm not someone who has ever gotten bad marks. I had a 3.75 GPA in my undergrad business degree and was working full-time and taking 15 credits a term - at a regular college. :)
 


You have a good background, for returning to school. That's a positive. I first went to college in my early 30s. I had forgotten almost everything mathematical (beyond arithmetic, percentages, averages, fractions, etc.) that I had learned through high school. My first two math courses at a community college were not college math classes. It happens to everybody; if you don't use it, you lose it. In college, I often did twice as many problems as assigned and always checked my work to confirm answers, until I was confident that I understood the point of it all. Repetition and reading different texts helped me to overcome "the hard ones".

Keep chuggin away. Things will come together, over time. 8-)

 
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