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evious Problem Set question, we started looking at the cost function C (z), the cost of a firm producing z items. An important microeconomics is the marginal cost, defined in (non-mathematical introductory) economics as the cost of producing one additional item. rrent production level is z items with cost C (z), then the cost of computing h additional items is C (z+h). The average cost of those h items is -h)-C(z)) As we analyze the cost of just the last item produced, this can be made into a mathematical model by taking the limit as h→0, i.e. the we C' (2). Use this function in the model below for the Marginal Cost function MC(z). h m Set question: st, in dollars, of producing z units of a certain item is given by the marginal cost function. C(z)=0.0473 -10z+450.

evious Problem Set question, we started looking at the cost function C (z), the cost of a firm producing z items. An important microeconomics is the marginal cost, defined in (non-mathematical introductory) economics as the cost of producing one additional item. rrent production level is z items with cost C (z), then the cost of computing h additional items is C (z+h). The average cost of those h items is -h)-C(z)) As we analyze the cost of just the last item produced, this can be made into a mathematical model by taking the limit as h→0, i.e. the we C' (2). Use this function in the model below for the Marginal Cost function MC(z). h m Set question: st, in dollars, of producing z units of a certain item is given by the marginal cost function. C(z)=0.0473 -10z+450.

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Please help I am not getting this. Thank you.
MC (2)= Fo a b Va 0.16x² - 10 a k sin (a) (b) Find the marginal cost when 30 units of the item are produced. The marginal cost when 30 units are produced is $134) (c) Find the actual cost of increasing production from 30 units to 31 units. X The actual cost of increasing production from 30 units to 31 units is $ 300 E >
Transcribed Image Text:MC (2)= Fo a b Va 0.16x² - 10 a k sin (a) (b) Find the marginal cost when 30 units of the item are produced. The marginal cost when 30 units are produced is $134) (c) Find the actual cost of increasing production from 30 units to 31 units. X The actual cost of increasing production from 30 units to 31 units is $ 300 E >
In the previous Problem Set question, we started looking at the cost function C (z), the cost of a firm producing z items. An important microeconomics concept is the marginal cost, defined in (non-mathematical introductory) economics as the cost of producing one additional item. If the current production level is z items with cost C (2), then the cost of computing h additionial items is C (z + h). The average cost of those h items is (C(z+h)-C(z)) As we analyze the cost of just the last item produced, this can be made into a mathematical model by taking the limit as h→0, i.e. the derivative C' (z). Use this function in the model below for the Marginal Cost function MC (2). h Problem Set question: The cost, in dollars, of producing z units of a certain item is given by (a) Find the marginal cost function. b a b Va 2 0.16 x 10 a T sin (a) C(z)=0.0473 10z + 450. Submit Assignment
Transcribed Image Text:In the previous Problem Set question, we started looking at the cost function C (z), the cost of a firm producing z items. An important microeconomics concept is the marginal cost, defined in (non-mathematical introductory) economics as the cost of producing one additional item. If the current production level is z items with cost C (2), then the cost of computing h additionial items is C (z + h). The average cost of those h items is (C(z+h)-C(z)) As we analyze the cost of just the last item produced, this can be made into a mathematical model by taking the limit as h→0, i.e. the derivative C' (z). Use this function in the model below for the Marginal Cost function MC (2). h Problem Set question: The cost, in dollars, of producing z units of a certain item is given by (a) Find the marginal cost function. b a b Va 2 0.16 x 10 a T sin (a) C(z)=0.0473 10z + 450. Submit Assignment
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