In Exercises 1 through 6, C(x) is the total cost of producing x units of a particular commodity and p(x) is the unit price at which all x units will be sold. Assume p(x) and C(x) are in dollars.

(a) Find the marginal cost and the marginal revenue.

(b) Use marginal cost to estimate the cost of producing the 21st unit. What is the actual cost of producing the 21st unit?

(c) Use marginal revenue to estimate the revenue derived from the sale of the 21st unit. What is the actual revenue obtained from the sale of the 21st unit?

Transcribed Image Text:

C(x) = x² + 4x + 57; p(x) = 1 4(48 -(48 - x)