The total cost of output x is given by . Find: Cost when output is 4 units. Average cost of output of 10 units. Marginal cost when output is 3 units.

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Question. The total cost of output x is given by 


. Find:

  1. Cost when output is 4 units.
  2. Average cost of output of 10 units.
  3. Marginal cost when output is 3 units.

Solution:

1. When the output is 4 units then the value of cost is













2. Average cost=AC


When output is 10 units then average cost is


3. Marginal cost= MC











Marginal cost when output is 3 units

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