The cost function of producing x items is C(x) = 4x² - 12x + 500. a) Find the marginal cost function (MC(x)). b) Evaluate the marginal cost function at x = 3 and interpret the answer. c) Find the average cost function (AC(x)).

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter4: Rational Functions And Conics
Section4.2: Graphs Of Rational Functions
Problem 88E
icon
Related questions
Question
The cost function of producing x items is C (x)
= 4x² 12x + 500.
a) Find the marginal cost function (MC(x)).
b) Evaluate the marginal cost function at x = 3 and interpret the answer.
c) Find the average cost function (AC(x)).
d) Find the marginal average cost function (MAC(x)).
e) Evaluate the average marginal cost function at x = 3 and interpret the answer.
Transcribed Image Text:The cost function of producing x items is C (x) = 4x² 12x + 500. a) Find the marginal cost function (MC(x)). b) Evaluate the marginal cost function at x = 3 and interpret the answer. c) Find the average cost function (AC(x)). d) Find the marginal average cost function (MAC(x)). e) Evaluate the average marginal cost function at x = 3 and interpret the answer.
Expert Solution
steps

Step by step

Solved in 4 steps

Blurred answer
Recommended textbooks for you
College Algebra
College Algebra
Algebra
ISBN:
9781337282291
Author:
Ron Larson
Publisher:
Cengage Learning
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax
Algebra and Trigonometry (MindTap Course List)
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage