The cost of producing x ounces of gold from a new gold mine is C − f (x) dollars.
(a) What is the meaning of the derivative f'(x)? What are its
units?
(b) What does the statement f'(800) = 17 mean?
(c) Do you think the values of f'(x) will increase or decrease
in the short term? What about the long term? Explain.
To determine the following:
Part 1. a) The meaning of f’(x) and its units.
Part 2. b) The meaning of the statement f’(800) = 17.
Part 3. c) If f’(x) will increase or decrease in short term and long term.
Given:
The cost of gold (x ounces) production from a new gold mine is given by the function,
Concept Used:
The derivative of the function f(x) with respect to x, that is, f’(x) represents the rate ...
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