Suppose that the cost function for a commodity is C(x) = 50 + x dollars. (a) Find the marginal cost at x = 3 units. MC(3) = Tell what this predicts about the cost of producing 1 additional unit. The cost to produce the 4th unit is predicted to be $ (b) Calculate C(4) – C(3) to find the actual cost of producing 1 additional unit $

Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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Suppose that the cost function for a commodity is
C(x) = 50 + x² dollars.
(a) Find the marginal cost at x = 3 units.
%3D
MC(3) =
%3D
Tell what this predicts about the cost of producing 1 additional unit.
The cost to produce the 4th unit is predicted to be $
(b) Calculate C(4) – C(3) to find the actual cost of producing 1 additional unit.
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Transcribed Image Text:Suppose that the cost function for a commodity is C(x) = 50 + x² dollars. (a) Find the marginal cost at x = 3 units. %3D MC(3) = %3D Tell what this predicts about the cost of producing 1 additional unit. The cost to produce the 4th unit is predicted to be $ (b) Calculate C(4) – C(3) to find the actual cost of producing 1 additional unit. Need Help? Read It Watch It
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