A linear cost function is C(x) = 5x + 900. (Assume C is measured in dollars.) (a) What are the slope and the C-intercept? slope ? C-intercept ? (b) What is the marginal cost MC ? MC = ?
A linear cost function is C(x) = 5x + 900. (Assume C is measured in dollars.) (a) What are the slope and the C-intercept? slope ? C-intercept ? (b) What is the marginal cost MC ? MC = ?
Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter2: Functions
Section2.4: Average Rate Of Change Of A Function
Problem 4.2E: bThe average rate of change of the linear function f(x)=3x+5 between any two points is ________.
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A linear cost function is C(x) = 5x + 900. (Assume C is measured in dollars.)
(a) What are the slope and the C-intercept?
(b) What is the marginal cost MC ?
slope | ? |
C-intercept | ? |
(b) What is the marginal cost MC ?
MC = ?
What does the marginal cost mean? (multiple choice)
A. If production is increased by this many units, the cost increases by $1.
B. Each additional unit produced reduces the cost by this much (in dollars). C. If production is increased by this many units, the cost decreases by $1.
B. Each additional unit produced reduces the cost by this much (in dollars). C. If production is increased by this many units, the cost decreases by $1.
D. Each additional unit produced costs this much (in dollars).
(c) What are the fixed costs?
$ ?
(d) How are your answers to parts (a), (b), and (c) related?
A. slope = fixed costs, and C-intercept = marginal cost
(e) What is the cost of producing one more item if 50 are currently being produced?
$ ?
What is the cost of producing one more item if 100 are currently being produced?
$ ?
B. slope/C-intercept = marginal cost
C. C-intercept/slope = marginal cost
D. slope = marginal cost, and C-intercept = fixed costs(e) What is the cost of producing one more item if 50 are currently being produced?
$ ?
What is the cost of producing one more item if 100 are currently being produced?
$ ?
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