Elektra Electronics manufactures a programmable pocket calculator. Management determined that the daily total cost of producing x of these calculators is given by

i.Find the marginal cost function[3 Marks]

ii.Calculate the marginal cost when x =200 and 400.[3 Marks]

iii.interpret the results[2 Marks]

iv.

QUESTION 3

OHaganBooks.com has been experiencing a run of bad luck with its summer college intern program in association with Party Central University (begun as a result of a suggestion by Marjory Duffin over dinner one evening). The frequent errors in filling orders, charges from movie download sites and dating sites, and beverages spilled on computer equipment have resulted in an estimated weekly cost to the company of dollars where xis the number of college interns employed.

a)What is the marginal cost at a level of 10 interns?[2 Marks]

b)What is the average cost per intern at a level of 10 interns?[2 Marks]

c)What is the marginal average cost at a level of 10 interns?[2 Marks]

d)Interpret the results of parts (a)-(c)[2 Marks]