The marginal cost function and the rate of increase of cost of iPhones when x = 10 , 000 such that its cost is given by the function C ( x ) = 400 , 000 + 160 x + 0.001 x 2 dollars where x is the number of manufacturing 32 GB iPhone in an hour. Compare the answer with the cost of producing the 10 , 001 st iPhone.
The marginal cost function and the rate of increase of cost of iPhones when x = 10 , 000 such that its cost is given by the function C ( x ) = 400 , 000 + 160 x + 0.001 x 2 dollars where x is the number of manufacturing 32 GB iPhone in an hour. Compare the answer with the cost of producing the 10 , 001 st iPhone.
Solution Summary: The author calculates the marginal cost function and the rate of increase of cost of iPhones when x=10,000.
To calculate: The marginal cost function and the rate of increase of cost of iPhones when x=10,000 such that its cost is given by the function C(x)=400,000+160x+0.001x2 dollars where x is the number of manufacturing 32 GB iPhone in an hour. Compare the answer with the cost of producing the 10,001st iPhone.
(b)
To determine
To calculate: The average cost function C¯ and C¯(10,000) such that its cost is given by the function C(x)=400,000+160x+0.001x2 dollars where x is the number of manufacturing 32 GB iPhone in an hour.
(c)
To determine
Whether the average cost is rising or falling at a production of 10,000 iPhones from the answers derived in part (a) and part (b) such that cost of iPhone is given by the function C(x)=400,000+160x+0.001x2 dollars where x is the number of manufacturing 32 GB iPhone in an hour.