Suppose that the total cost (in dollars) for a product is given by C(x) = 1200 + 180 In(2x + 1) where x is the number of units produced. (a) Find the marginal cost MC function. MC = (b) Find the marginal cost when 180 units are produced. (Round your answer to the nearest cent.) 2$ Interpret your result. O The profit from the next unit will be approximately this amount. O It will cost approximately this amount to make the next unit. O This is the total cost of producing 180 units. O This is the total profit from producing 180 units. (c) Total cost functions always increase because producing more items costs more. What then must be true of the marginal cost function? O MC < 0 O MC S0 О мс 2 0 О мс — 0 О мс > 0 Does it apply in this problem? O Yes O No
Suppose that the total cost (in dollars) for a product is given by C(x) = 1200 + 180 In(2x + 1) where x is the number of units produced. (a) Find the marginal cost MC function. MC = (b) Find the marginal cost when 180 units are produced. (Round your answer to the nearest cent.) 2$ Interpret your result. O The profit from the next unit will be approximately this amount. O It will cost approximately this amount to make the next unit. O This is the total cost of producing 180 units. O This is the total profit from producing 180 units. (c) Total cost functions always increase because producing more items costs more. What then must be true of the marginal cost function? O MC < 0 O MC S0 О мс 2 0 О мс — 0 О мс > 0 Does it apply in this problem? O Yes O No
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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