The cost (in dollars) of producingqitems is given byC(q)=0.03q³+65q+4000.

(a)Find the marginal cost function.

C(q)=

(b)FindC(80)andC(80). Give units with your answers and explain what each is telling you about costs of production.

C(80)= _________a.dollars b.dollars per item c.items per dollar d.items

________________________ a.C(80) tells us how much it costs to produce 80 items. b.C(80) tells us the approximate change in the number of items produced per dollar. c.C(80) tells us the approximate change in cost to produce one additional item. d.C(80) tells us how many items can be produced at a cost of 80 dollars.

C(80)=_________ a.dollar b.dollars per item c.items per dollar d.items

_______________________ a.C'(80) tells us the approximate change in cost to produce one additional item after 80 have been produced. b.C'(80) tells us how many items can be produced at a cost of 80 dollars. c.C'(80) tells us the approximate change in the number of items produced per dollar. d.C'(80) tells us how much it costs to produce 80 items.