For Exercise 11-16 assume that C ( x ) and R ( x ) are in dollars and x is the number of units produced and sold For the total-cost function C ( x ) = 0.01 x 2 + 0.6 x + 30 , find Δ C and C ' ( x ) when x = 70 and Δ x = 1
For Exercise 11-16 assume that C ( x ) and R ( x ) are in dollars and x is the number of units produced and sold For the total-cost function C ( x ) = 0.01 x 2 + 0.6 x + 30 , find Δ C and C ' ( x ) when x = 70 and Δ x = 1
Solution Summary: The author explains how to calculate the value of Delta C and C'(x).
Given two inputs X1 and X2 with prices W1 and W2 respectively and a production function Y=f(X1,X2), show that cost minimisation implies that the marginal rate of substitution between the inputs X1 and X2 is equal to the ratio of the two inputs prices
Given a cost function C(x) as
C(x)=120+2x,
calculate the marginal average cost when x=5, and use that to estimate the average cost when x=6. Give your answer as an exact decimal.
A company determined that the marginal cost,
C′(x)
of producing the xth unit of a product is given by
C′(x)=x^3−4x.
Find the total cost function C, assuming that C(x) is in dollars and that fixed costs are
$6000.
University Calculus: Early Transcendentals (4th Edition)
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