For the Cost Function C(Q)= 1000 + 14Q + 9Q²

question 161

Multiple Choice

For the cost function C(Q) = 1000 + 14Q + 9Q² + 3Q³,what is the marginal cost of producing the fourth unit of output?

• A) $42
• B) $295
• C) $230
• D) $116

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Definitions:

Frank and Lillian Gilbreth

Pioneers in the field of industrial engineering, known for their work in time and motion studies and efficiency improvement.

Incentive Wage Plans

A payment system that rewards employees for meeting or exceeding certain performance benchmarks, aimed at motivating higher productivity.

Motion Studies

The systematic analysis of work processes and movements to increase efficiency, reduce waste, and improve productivity.

Unity of Command

A principle in management and military that states an individual should receive orders from only one superior.