Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The cost function for production of a commodity is C ( x ) = 369 + 24 x 0.06 x 2 + 0.0006 x 3
The cost function for production of a commodity is
C(x) = 369 + 24x 0.06x2 + 0.0006x3.
(a) Find C'(100).
(b) Find the actual cost of producing the 101st item. (Round your answer to the nearest cent.)
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