MTH 1321 Chapter Notes - Chapter 3.4: Marginal Cost

• School: Baylor University
• Department: Mathematics
• Course: MTH 1321
• Professor: Steven Cates

Document Summary

The number x of units manufactured is the production level. To study the relation between costs and production, economists define the marginal cost which is equal to c(x0+ 1)- c(x0: velocity is the rate of change of position with respect to time. Sign of v(t) indicates direction of motion. If s(t) is height above ground, then v(t)>0 indicates object rising. Speed is defined as the absolute value of velocity: galileo discovered that the height s(t) and velocity v(t) at time t (seconds) of an object tossed vertically in the air near the earth"s surface are given by. S(t)= s0 + v0t- (1/2)gt2, v(t)= (ds/dt)= v0- gt.