Consider the following cost function. a. Find the average cost and marginal cost functions. b. Determine the average and marginal cost when x = a. c. Interpret the values obtained in part (b).

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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Parts a,b,c
Consider the following cost function.
a. Find the average cost and marginal cost functions.
b. Determine the average and marginal cost when x = a.
c. Interpret the values obtained in part (b).
C(x)=0.04x³ +0.2x² + 30x +90, 0≤x≤ 1500, a = 1000
a. The average cost function is C(x) =
Transcribed Image Text:Consider the following cost function. a. Find the average cost and marginal cost functions. b. Determine the average and marginal cost when x = a. c. Interpret the values obtained in part (b). C(x)=0.04x³ +0.2x² + 30x +90, 0≤x≤ 1500, a = 1000 a. The average cost function is C(x) =
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