Cost AnalysisA company manufactures fuel tanks for cars.The total weekly cost (in dollars) of producing X fuel tanks is given by..C(x) = 10000 +90x - 0.05x²%3DFind the exact cost of producing the 501st item.(Round to the nearest 2 decimal places, if needed)HINT: Steps to fiınd actual or exact (cost/revenue/profit)1. Find the cost of x = 5003B2. Then find the cost of x = 501%3;3. Then subtractASUS3近

Marginal Cost is the cost of producing additional unit of Output. Marginal Cost = Change in Total…

Answered: Find the exact cost of producing the…

Business

Economics

Find the exact cost of producing the 501st item.

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter4: Extent (how Much) Decisions

Section: Chapter Questions

Problem 3MC

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Question

Cost Analysis
A company manufactures fuel tanks for cars.
The total weekly cost (in dollars) of producing X fuel tanks is given by..
C(x) = 10000 +90x - 0.05x²
%3D
Find the exact cost of producing the 501st item.
(Round to the nearest 2 decimal places, if needed)
HINT: Steps to fiınd actual or exact (cost/revenue/profit)
1. Find the cost of x = 5003B
2. Then find the cost of x = 501%3;
3. Then subtract
ASUS
3
近

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