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Que1 () Consider the cost function C(x) = 6x2 + 14x + 18 (thousand dollars). (a) What is the marginal cost at production level x
Que1 () Consider the cost function C(x) = 6x2 + 14x + 18 (thousand dollars). (a) What is the marginal cost at production level x = 5? (1) (b) Estimate the cost of raising the production level from x = 5 to x = 5.25. (1) (c) Let R(x) = -x- + 37x + 38 denote the revenue in thousands of dollars generated from the production of x units. What is the breakeven point? (2) (d) Compute and compare the marginal revenue and marginal cost at the breakeven point. Should the company increase production beyond the breakeven point? Justify your answer using marginals. (2) (ii) Find the equation of the tangent to the given curve at the point x = 2 8 where f(x) = x2+x-2 ' (4)
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