If cx) =x + 4x +57 is the total cost of producing x units of a particular čómmodity and p(x)-(36- x) price at which all x units will be sold. a. Use marginal cost to estimate the cost of producing the fourth unit. b. Find the actual cost of producing the fourth unit. c Use marginal revenue to estimate the revenue derived from the sale of the fourth unit. d. Find the actual revenue derived from the sale of the fourth unit.

If cx) =x + 4x +57 is the total cost of producing x units of a particular čómmodity and p(x)-(36- x) price at which all x units will be sold. a. Use marginal cost to estimate the cost of producing the fourth unit. b. Find the actual cost of producing the fourth unit. c Use marginal revenue to estimate the revenue derived from the sale of the fourth unit. d. Find the actual revenue derived from the sale of the fourth unit.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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