Question
Asked Dec 4, 2019
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The total cost function for a product is C(x)= 5x+250, and the total revenue is

R(x)= 27 x, where x is the number of units produced or sold.

  1. Find the fixed cost.
  2. What is the marginal cost?
  3. Find the profit function.
  4. What is the marginal profit?

Interpret the marginal profit.

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Expert Answer

Step 1

Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and specify the other subparts (up to 3) you’d like answered.

1) To find fixed cost plug x=0 in C(x). 

C(0)=250, so fixed cost is 250.

Answer(1): 250

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C(x)=5x+250 C(0)=5(0)+250 C(0)=250

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Step 2

2) Marginal cost is given by C'(x).

To find C'(x) we use first derivat...

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C(x) 5x+250 C'(x) 5+0 C'(x) 5

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Tagged in

Math

Calculus