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.

- Find the fixed cost.
- What is the marginal cost?
- Find the profit function.
- What is the marginal profit?

Interpret the marginal profit.

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**

Step 2

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

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

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