Question
Solid Rock Industries determines that the marginal cost, C(x), in dollars per unit, from producing the x th pair of climbing boot is given by
Solid Rock Industries determines that the marginal cost, C(x), in dollars per unit, from producing the xth pair of climbing boot is given by
MCx=x3-10x+15
Where 0x20.
Find MC(5). Interpret MC(5) in economic terms.
Sketch a graph of the marginal cost function. Carefully label the function and the y intercept. Meaningfully label the x and y axes.
On the above graph, shade the area that represents the cost from the production of the first 4 pairs of climbing boots.
Give and solve (using the Fundamental Theorem of Calculus) the definite integral that represents the cost from the production of the first 4 pairs of climbing boots.
Given the cost from producing 2 pairs of climbing boots is $300, find the general cost equation for this problem.
What is the cost of producing 7 pairs of climbing boots?
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