Introduction to Calculus in Economics (continued): In the previous Problem Set question, we started looking at the cost function C (11:), the cost of a firm producing m items. An important microeconomics concept is the marginal cost, defined in (non-mathematical introductory) economics as the cost of producing one additional item. If the current production level is as items with cost C (5:), then the cost of computing h additionial items is C (a: + h). The average cost of those h items is (0(w+h)70(w)) h derivative C, (:11). Use this function in the model below for the Marginal Cost function MC (5:). .As we analyze the cost of just the last item produced, this can be made into a mathematical model by taking the limit as h e 0, Le. the Problem Set question: The cost, in dollars, of producing :1: units of a certain item is given by C(m) = 0.01.23 , 15:1: + 450. (a) Find the marginal cost function. a, % 3 lal 7r siura) Ill! 0 MC (m) =3 (b) Find the marginal cost when 50 units of the item are produced. The marginal cost when 50 units are produced is $ . (c) Find the actual cost of increasing production from 50 units to 51 units. The actual cost of increasing production from 50 units to 51 units is $