If the marginal cost for a product is , and the production of 15 units results in a total cost of $615, find the total cost function C.

Question

If the marginal cost for a product is  , and the production of 15 units results in a total cost of $615, find the total cost function C.

Quizplus · Accepted Answer

The total cost function C can be calculated using the formula: 
C = MC x Q + FC 
where MC is the marginal cost, Q is the quantity produced and FC is the fixed cost. 
Given that the marginal cost is 11ea984b_b18e_65d2_9029_cdff864eec24_TB4005_11 and the production of 15 units results in a total cost of $615, we can plug in the values to solve for FC. 
615 = (11ea984b_b18e_65d2_9029_cdff864eec24_TB4005_11 x 15) + FC 
615 = 171 + FC 
FC = 615 - 171 = 444 
Therefore, the total cost function C is: 
C = 11ea984b_b18e_65d2_9029_cdff864eec24_TB4005_11Q + 444 
Simplifying the number, we get: 
C = 11Q + 444 
The closest option is C, which is in the correct format for the total cost function.

If the Marginal Cost for a Product Is