Introduction to Calculus in Economics [continued]: In the previous Problem Set question, we started looking at the cost function G {or}, the cost of a lm producing 2 items. An important microeconomics concept is the marginal cost dened in {non-mathematical introductory] economics as the cost at producing one additional item. Iftlre current production level is 3 items with cost 0(1), then the cost of computing h additionial items is C {I + h}. The average cost of those I; items is (Stef-0h): h derivative 6" (2}. Use this function in the model below for the Marginal Cost function 510(2). _ As we analyze the cost ofjust the last item produced, this can be made into a mathematical model by taking the limit as h > D, to the Problem Set question: The cost, in dollars, of producing 1 units of a certain item is given by c {1) = 0.01:3 ID: + 350. {a} Find the marginal cost function. mots) =- {hj Find the marginal cost when TU units ofthe item are produced. The marginal cost when 71] units are produced is 3 Number [1:] Find the actual cost of increasing production from TD units to 71 units. The actual cost of increasing production from Tunits to 71 units is $ Number