The function C(q) gives the cost in dollars to produce q barrels of olive oil. (a) What

Question:

The function C(q) gives the cost in dollars to produce q barrels of olive oil.
(a) What are the units of marginal cost?
(b) What is the practical meaning of the statement MC = 3 for q = 100?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Applied Calculus

ISBN: 9781119275565

6th Edition

Authors: Deborah Hughes Hallett, Patti Frazer Lock, Andrew M. Gleason, Daniel E. Flath, Sheldon P. Gordon, David O. Lomen, David Lovelock, William G. McCallum, Brad G. Osgood, Andrew Pasquale

See More Books

Question Posted: Apr 10, 2023 11:58 PM

See More Questions

The cost in dollars to produce x t-shirts is C(x)=5.97x+80C(x)=5.97x+80. The revenue in dollars from sales of x t-shirts is R(x)=12.26xR(x)=12.26x. Find a function P(x) for the profit made by...
The total cost in dollars to produce q units of a product is C(q). Fixed costs are $20,000. The marginal cost is C'(q) = 0.005q 2 q + 56. (a) On a graph of C'(q), illustrate graphically the total...
Suppose the cost in dollars to produce x hundreds of nails is given by C(x) = x 2 + 4x + 7. (a) Sketch a graph of C(x). (b) Find a formula for C(x + 1) - C(x), the cost to produce an additional...
The following data show the curb weight, horsepower, and -mile speed for 16 popular sports and GT cars. Suppose that the price of each sports and GT car is also available. The complete data set is as...
If the first value of 3.0 in Exercise 21 is changed to 300, it becomes an outlier. Does this outlier have much of an effect on the confidence interval? How should you handle outliers when they are...
List and discuss some of the steps that managers should take when preparing to conduct job interviews. How do these steps facilitate the interview process and help management achieve its goals? Be...
Testator gives property to Timothy in trust for Barneys benefit, providing that Barney cannot assign or pledge future trust income. Barney borrows money from Linda, assigning his future income under...
On April 1, 2011, Bay delivers merchandise to Ram for 200,000 pesos when the spot rate for pesos is 6.0496 pesos. The receivable from Ram is due May 30. Also on April 1, Bay hedges its foreign...
B. D, E, and F form a corporation. As follows: _ . E Property Transferred: $25,000 $25.000 Buildings (FMV) $75,000 Stock received: 75 10-Yr Note (FMV) 25 $25,000 Required: Would the transfers by D...
At one of the labeled points on the graph in Figure 2.46 both dydx and d 2 ydx 2 are negative. Which is it? y A B C D E Figure 2.46 - x
Refer to the graph in Figure 2.11. Which of the two quantities appears to be larger? (a) f(1) or f(2) (b) f(5) or f(6) (c) f(3) or f(4) (d) f'(2) or f'(2) (e) f'(4) or f'(5) (f) f'(1) or f'(0) 20+ PH...
This exercise is concerned with two versions of the Bayes estimate of the seasonal rainfall component, where it is required to compute $E\left(\eta_{m} \midight.$ data) for each of 12 months. As...
James A. and Ella R. Polk, ages 70 and 65, respectively, are retired physicians who live at 3319 Taylorcrest Street, Houston, Texas 77079. Their three adult children (Benjamin Polk, Michael Polk, and...
I need help solving the following question: - Thank you in advance. On January 1, Year 6, HD Lid., a building supply company, JC Lid., a construction company, and Mr. Saeid, a private investor,...
Let X 1 , , X n X 1 , , X n be a random sample from a normal distribution with mean and variance 1. Find the uniformly minimum variance unbiased estimator of 2 2 .2 answers
The ledger of Duggan Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared. Debit Credit Prepaid Insurance $3,600 Supplies...
1.Using the Excel file Sales transaction find the following15 Marks a.Identify the levels of measurement for each variables b.Construct a cross tabulation to find the number of transactions by...
An article in Health Economics [Estimation of the Transition Matrix of a Discrete-Time Markov Chain (2002, Vol.11, pp. 3342)] considered the changes in CD4 white blood cell counts from one month to...
Test whether the 5-year survival rate for breast cancer is significantly different between African American and Caucasian women who are younger than 50 years of age and have localized disease....
If the lifetime (in weeks) of a certain brand of lightbulb has an exponential density function and 80% of all lightbulbs fail within the first 100 weeks, find the average lifetime of a lightbulb.
A pair of dice is rolled until a 7 or an 11 appears, and the number of rolls preceding the final roll is observed. The probability of rolling 7 or 11 is 2/9. Determine the formula for p n , the...
A random variable X has a density function f (x) = 2/3x on 1 x 2. Find a such that Pr (a X ) = 1/3.
why would an auditor want to complete dual-purpose tests? what procedure can be put into place to help prevent fraud? List 4 procedures.
Based on the following information, calculate sustainable growth rate for Groot, Inc.: Profit margin= 7.1% Total asset turnover = 1.90 Total debt ratio = .45 Payout ratio = 20% What is the ROA here?
Consider the following: a call option on a stock has strike price $100, premium of $5 and the current price of the underlying stock is $100. If you buy the call option today, what is your holding...

The function C(q) gives the cost in dollars to produce q barrels of olive oil. (a) What

Question:

Step by Step Answer:

a Marginal cost is the derivati...View the full answer

Applied Calculus

Students also viewed these Mathematics questions