Question: Hi! I need the solution and explanation for this question. TQ DIFFERENTIATION AND COMPARATIVE STATICS 1) The total cost function of an electric light and

Hi! I need the solution and explanation for this question. TQ

DIFFERENTIATION AND COMPARATIVE STATICS

1) The total cost function of an electric light and power plant is estimated by,

C =16.68 + 0.125q + 0.00439 q ^2

where q is the eight-hour total output (as a percentage of capacity) and c is the total fuel cost in dollars. Find the marginal-cost function and evaluate it when q = 70.

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