How to Do Marginal Cost?

Identify the total cost function, (C(q))

Identify the output quantity, (q)

Find the derivative of the total cost function with respect to quantity, (frac{dC}{dq})

Evaluate the derivative at the desired output level

Use the result as the marginal cost

If using data instead of a formula, compute (frac{Delta C}{Delta q}) for a small change in output

Keep units as cost per additional unit produced

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