https://goo.gl/JQ8NysFinding the Marginal Cost Function given the Cost Function In many cases, though, it’s easier to approximate this difference using calculus (see Example below). From what I understand, marginal cost and supply is the same thing. Make sure to include the following in your chart: Quantities. It gives the approximate cost of producing the next item (if x=5), r'(5) tells you the approximate cost of producing the 6th item). To find the marginal cost, derive the total cost function to find C' (x). In the model of perfect competition, we assume that a firm determines its output by finding the point where the marginal revenue and marginal cost curves intersect. If a firm has a production function Q=F(K,L) (that is, the quantity of output (Q) is some function of capital (K) and labor (L)), then if 2Q
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