Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Marginal analysis is very important in business and economics. In the following example below, a company manufactures fuel tanks for cars. The total weekly cost

Marginal analysis is very important in business and economics. In the following example below, a company manufactures fuel tanks for cars. The total weekly cost in dollars of producingxtanks is given by

C(x) = 10,000 + 90x - 0.05x2

Explain how you would:

(A) Find the marginal cost function.

(B) Find the marginal cost at a production level of 400 tanks per week.

(C) Interpret the results of part (B).

(D) Find the exact cost of producing the 401st item.

please show work when providing an explanation of the answer(s).

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Precalculus

Authors: Leonard J Brooks, Karla Neal, R David Gustafson, Jeff Hughes

1st Edition

1133712673, 9781133712671

More Books

Students also viewed these Mathematics questions

Question

How can customer service act as a competitive weapon?

Answered: 1 week ago