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Compute and interpret marginal cost Question Consider a cost function of the form for 0 < x < 1,000 S 20, 000 + 980x – x² C(x) = for x > 1, 000. It can be shown that C'(110) = 760. What is the correct interpretation of this result? Select the correct answer below: O At a production rate of 110 items, the cost of production per unit of time is decreasing by 760 O At a production rate of 110 items, the cost of production per unit of time is 760 O At a production rate of 760 items, the cost of production per unit of time is 110. At a production rate of 110 items, the cost of production per unit of time is increasing by 760

Compute and interpret marginal cost Question Consider a cost function of the form for 0 < x < 1,000 S 20, 000 + 980x – x² C(x) = for x > 1, 000. It can be shown that C'(110) = 760. What is the correct interpretation of this result? Select the correct answer below: O At a production rate of 110 items, the cost of production per unit of time is decreasing by 760 O At a production rate of 110 items, the cost of production per unit of time is 760 O At a production rate of 760 items, the cost of production per unit of time is 110. At a production rate of 110 items, the cost of production per unit of time is increasing by 760

Algebra and Trigonometry (MindTap Course List)
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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Compute and interpret marginal cost Question Consider a cost function of the form for 0 < x < 1,000 S 20, 000 + 980x – x² C(x) = for x > 1, 000. It can be shown that C'(110) = 760. What is the correct interpretation of this result? Select the correct answer below: O At a production rate of 110 items, the cost of production per unit of time is decreasing by 760 O At a production rate of 110 items, the cost of production per unit of time is 760 O At a production rate of 760 items, the cost of production per unit of time is 110. At a production rate of 110 items, the cost of production per unit of time is increasing by 760
Transcribed Image Text:Compute and interpret marginal cost Question Consider a cost function of the form for 0 < x < 1,000 S 20, 000 + 980x – x² C(x) = for x > 1, 000. It can be shown that C'(110) = 760. What is the correct interpretation of this result? Select the correct answer below: O At a production rate of 110 items, the cost of production per unit of time is decreasing by 760 O At a production rate of 110 items, the cost of production per unit of time is 760 O At a production rate of 760 items, the cost of production per unit of time is 110. At a production rate of 110 items, the cost of production per unit of time is increasing by 760
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