Introduction to Calculus in Economics (continued): In the previous Problem Set question, we started looking at the cost function C (1'), the cost of a rm producing :1: items. An important microeconomics concept is the marginal cost, dened in (non-mathematical introductory) economics as the cost of producing one additional item. If the current production level is :1: items with cost 0 (a?) then the cost of computing h additionial items is C (a: + h). The average cost of those I}. items is (C($+h)*0(=)) h derivative C\"r (:5). Use this function in the model below for the Marginal Cost function MC(:5). .As we analyze the cost ofjust the last item produced, this can be made into a mathematical model by taking the limit as h a 0, Le. the Problem Set question: The cost, in dollars, of producing :1: units of a certain item is given by C(m) = 0.0433 10:; + 250. (it) Find the marginal cost function. ab % [a| 7r sin (a) 1m 0 MC(:c) :- (b) Find the marginal cost when 60 units of the item are produced. The marginal cost when 60 units are produced is $ Number (0) Find the actual cost of increasing production from 60 units to 61 units. The actual cost of increasing production from 60 units to 61 units is $ Number