Calculus - Marginal cost

[@timothygouskov8953]

You pretty much saved my exam. Thank you so much

[@LAFO-es5xt]

Same for me dude

[@Lilliz91]

How did it go?

[@dusansavic3117]

never got an update on that exam 8 years ago?

[@Trafalgar-D-Law_]

9*​@@dusansavic3117

[@abbasrasheed6902]

kindly solve this question? Surgicon Pvt. Ltd is one of the leading surgical companies that manufactures fine quality of surgical instruments and accessories in Pakistan and operates in the highly competitive surgical instrument industry. Suppose Price for its surgical scissors is stable at Rs.70 each. This means that price (P) = Marginal revenue (MR) = 70 in this market. Engineering estimates indicate that relevant total cost function for the surgical instrument is given as: TC = 80,000 + 10Q + 0.003Q2 REQUIREMENTS: Keeping in view the above information and by using Formulas and Stepwise Procedure: A. Find marginal cost (MC) function B. Find average cost (AC) function C. Calculate the output level (Q) that will maximize profit of the company D. Calculate maximum Profit of the company

[@skeetsmcgee8113]

My professor sucks so I'm hear learning all the lessons before she even teaches them to avoid failing precalc again

[@seanpiacente4635]

But how do they come up wit the original formula in the first place?

[@ABlueberryMuffin]

I know this is basic stuff but looking to double check I am doing marginal cost when there are two Different companies in one cost function. I appreciate the post though

[@LAFO-es5xt]

Thankyou dude!!! re learning this stuff when university doesn't help you revisit it is a bitch. Thankyou.

[@dhruvavikas1632]

did you pass university

[@MarkNicolasGalan]

Can someone please explain to me how where does 1100+140x+0.2x² come from and what does it stands for one by one?

[@sadhgurusfunniestandwittie3620]

Cost function is estimated using various calculations. 1100 could here be fixed costs like monthly rent. 140x could be x kg of raw material at the rate of ₹40 per kg and so on

[@Lilliz91]

This made so much sense!!! Thank s

[@ernestjohngonzales5335]

What happens if cost per unit is constant?

[@andreasobama9487]

Then marginal cost is constant

[@HALMITONHYWELL-qz6eb]

Very teachable

[@fatimapacheco4062]

is the marginal cost the slope of the tangent or of the secant ?

[@jinjunliu2401]

fatima pacheco tangent, secant is when you use the cost function and calculate both numbers (106 and 105)

[@912sonic]

0:15 just explained it thanks

[@economicsportal]

Great work

[@ctman43]

Thanks man much appreciated

[@soldadopreciso]

what about two variables?P(L,K) , reduction of L and increment of K

[@roryboytube]

You are confusing it with a production function . For marginal product hold one factor constant and take the derivative of the function with respect to the factor you are analysing. ie you are taking the 2D derivative of a 3D function ie to find marg prod of labour you differentiate the L part of the prod function but not the K part & vice versa

[@jtylerw93]

0.4x doesn't make sense. I had a similar problem on hw and tried it and your way didn't work. shouldn't it be 100^2?

[@LAFO-es5xt]

no it does, because the derivative of 0.2X ^2 means you must bring down the power and multiply the coefficient by that power so 0.2 by 2 and subtract 1 from the remaining power giving you 1 so you just don't put it there. Leaving you with 0.4X.

[@Gracelam29]

how did you get 0.4x?

[@Gracelam29]

thanks!

[@maryph4255]

Thank you.

[@thabogodfreygqeba2782]

thank you sir!!!:))

[@iandelprado5978]

nice vid. very detailed

[@superprabal]

The cost function of two electricity generation units g1 and g2 are given as follows (measured in Rs/ hour): c1(q1)=0.2q21+2q1+15 c2(q2)=0.4q22+10q2+25 Where q1 and q2 respectively denote the electricity produced by generation units g1 and g2 (in MW). If total demand to be met is D = q1+ q2= 200 MW. Find out the values of the followings under optimum load dispatch. Please tell me how to solve this.

[@chuknukbubs6322]

no

[@saveash24]

thanks for your helppp xx

[@jblue3069]

Great vid!!!!!!!

[@dynamisarian6576]

Thank u thank u thank uuuuuuuu😊

[@jorgepellegrini11]

why you got 98$ and 97'5$? it is not the same... is it normal?

[@hammasaamir9588]

Good question, looking for the answer too.

[@matthewe293]

if you listened he said it's roughly the same number, which makes it very useful to get a quick approximation without doing all the work he did to subtract cost of 106 - 105

[@asdcsd2682]

Bir sonraki