Question
Asked Nov 7, 2019
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1. The marginal cost function for a company is given by C'(q)=q^2-16q+70 dollars/unit, where q is the quantity produced. If C(0)=500, find the total cost of producing 20 units.
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It is known that, the marginal cost function is C'(q) = q' -16q+ 70 and the given condition is C(0)=500 In order to find the total cost function, first integrate the marginal cost function =S(a? -16q +70) dq 2+1 1+1 q C(a) 2 1 +70qC 1+1 -16 - C(q)=16g -+70q + C 2

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3 -16 Use the condition C(0) =500 in C(q)= 3 704C 2 (0 16(0 -70(0)+C 2 C(0)= 3 500 00 0 +C 500 C 3 Thus, the total cost function is C(q)= L-16+ +70q500

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