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 itsunits?(b)  What does the statement f'(800) = 17 mean?(c)  Do you think the values of f'(x) will increase or decreasein the short term? What about the long term? Explain.

Question
Asked Oct 14, 2019
  1. The cost of producing x ounces of gold from a new gold mine is C − f (x) dollars.

    1. (a)  What is the meaning of the derivative f'(x)? What are its

      units?

    2. (b)  What does the statement f'(800) = 17 mean?

    3. (c)  Do you think the values of f'(x) will increase or decrease

      in the short term? What about the long term? Explain.

check_circleExpert Solution
Step 1

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.

Step 2

Given:

The cost of gold (x ounces) production from a new gold mine is given by the function,

C f(x) Dollars
help_outline

Image Transcriptionclose

C f(x) Dollars

fullscreen
Step 3

Concept Used:

The derivative of the function f(x) with respect to x, that is, f’(x) represents the rate ...

Want to see the full answer?

See Solution

Check out a sample Q&A here.

Want to see this answer and more?

Solutions are written by subject experts who are available 24/7. Questions are typically answered within 1 hour*

See Solution
*Response times may vary by subject and question
Tagged in

Math

Calculus

Derivative