Question

A mfg. company has TFC = 120 lakhs, TVC = 100 Q + 7Q2 +0.25Q3 Calculate the MC?​

Answer 1

Answer:

Here answer is

Mc = 100*1=100

7*2= 14q

0.25*3= 0.75q

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Answer 2

Answer:

100+14Q+0.75Q^2

Explanation:

Given:

TFC(total fixed cost)=120 lakhs

$TVC(total \: variable \: cost) = 100Q + 7 {Q}^{2} + 0.25 {Q}^{3}$

Total fixed cost (TFC) is that cost which does not change with a change in the level of output.

Examples: Rent, salaries,taxes etc.

Total variable cost (TVC) is that cost which changes as the level of output changes.

Examples: Direct labour,raw material cost, electricity etc.

Total cost (TC) is the sum of total fixed cost and total variable fixed cost.

Now,

$TC= TFC+ TVC \\ =120 + 100Q + 7 {Q}^{2} + 0.25 {Q}^{3}$

$MC(marginal \: cost) =\frac{d}{dQ} (120 +100Q +7{Q}^{2} +0.25 {Q}^{3})</p><p>$

$(since \: \frac{d}{dx} ( {x}^{n}) = n {x}^{n - 1} )$

so,

$MC = 0 + 100 + 14Q +0.75 {Q}^{2} \\ MC = 100 + 14Q + 0.75 {Q}^{2}$

Hence, the answer is 100+14Q+0.75Q^2.