Answered step by step
Verified Expert Solution
Question
1 Approved Answer
C(x) = 0.01x-0.9x + 33x gives the cost, in thousands of dollars, to produce x thousand items. (a) Find a formula for the marginal
C(x) = 0.01x-0.9x + 33x gives the cost, in thousands of dollars, to produce x thousand items. (a) Find a formula for the marginal cost. (b) Find C'(0), Give units. (c) Graph the marginal cost function. Use your graph to find the minimum marginal cost, the production level for which the marginal cost is the smallest. (d) For what value of x does the marginal cost return to C'(0)? (a) Find a formula for the marginal cost. C'(x) = (b) Find C'(0). Give units. C'(0)= (c) Use the derivative of the marginal cost function to find the minimum marginal cost, the production level for which the marginal cost is the smallest. The minimum marginal cost of additional dollars per item produced occurs when thousand items are produced. (d) Recall your answer to part b. For what value of x does the marginal cost return to C'(0)? Marginal cost returns to this value of C'(x) when x= items are produced.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started