   Chapter 11.2, Problem 40E Finite Mathematics and Applied Cal...

7th Edition
Stefan Waner + 1 other
ISBN: 9781337274203

Solutions

Chapter
Section Finite Mathematics and Applied Cal...

7th Edition
Stefan Waner + 1 other
ISBN: 9781337274203
Textbook Problem

Give an example of a cost function for which the marginal cost function is always less than the average cost function.

To determine

The function for which the marginal cost function is always less than the average cost function.

Explanation

Given Information:

The marginal cost function is always less than the average cost function.

Consider the function,

C(x)=500x+60

As marginal cost is C(x)

So, calculate the average cost if the function,

C(x)=ddx(500x+60)

Sum rule of the derivative is ddx[f(x)+g(x)]=ddx[f(x)]+ddx[g(x)] where f(x) and g(x) are any two differentiable functions.

Constant multiple rules of the derivative are f(cx)=cf(x), where c is any constant

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