7. An analyst has found that Tom's Transmissions Company cost function is: C(x) = 40,000 + 500x – 0.55x? for, where x is the number of transmissions. a) Determine the marginal Cost function C'(x). b) Determine when the Cost function is maximized. c) Determine the marginal cost function at the 100th item produced and sold. Explain significance of the marginal cost at this point. d) Determine the cost difference between 101st and 100oth boat ( C(101) – C(100)). Is this value the same or different from the marginal cost from part c? Explain.
7. An analyst has found that Tom's Transmissions Company cost function is: C(x) = 40,000 + 500x – 0.55x? for, where x is the number of transmissions. a) Determine the marginal Cost function C'(x). b) Determine when the Cost function is maximized. c) Determine the marginal cost function at the 100th item produced and sold. Explain significance of the marginal cost at this point. d) Determine the cost difference between 101st and 100oth boat ( C(101) – C(100)). Is this value the same or different from the marginal cost from part c? Explain.
Chapter3: Functions
Section3.3: Rates Of Change And Behavior Of Graphs
Problem 3SE: How are the absolute maximum and minimum similar to and different from the local extrema?
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Transcribed Image Text:7. An analyst has found that Tom's Transmissions Company cost function is:
C(x) = 40,000 + 500x – 0.55x² for, where x is the number of transmissions.
a) Determine the marginal Cost function C'(x).
b) Determine when the Cost function is maximized.
c) Determine the marginal cost function at the 100th item proe
Explain significance of the marginal cost at this point.
ed and sold.
d) Determine the cost difference between 101st and 100th boat ( C(101) - C(100)).
Is this value the same or different from the marginal cost from part c? Explain.
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