1.To find the marginal cost, find the anti-derivative of the cost function. True

Question

1.To find the marginal cost, find the anti-derivative of the cost function.

      True

      False

2. The instantaneous rate of change is also known as the first derivative while the rate of change of the rate of change, or acceleration is known as the second derivative.

      True

      False

3. To find the consumer surplus or producer surplus requires finding the area of the rectangle formed at market equilibrium.

      True

      False

      True

      False

       True

   False

      True

      False

       True

       False

Explanation / Answer

1.For marginal cost , derivative of cost function is required.So statement is false

2.The instantaneous rate of change is also known as the first derivative while the rate of change of the rate of change, or acceleration(double derivative of positin vector with respect to time or single derivative of velovity vector) is known as the second derivative.So the statement is true.

3.To find the consumer surplus or producer surplus requires finding the area of the rectangle formed at market equilibrium.This statement is false as the are of under the curve supply curve or demand curve(not the rectangle) gives the area.

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