Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The cost of producing x teddy bears per day at the Cuddly Companion Co. is calculated by their marketing staff to be given by the

image text in transcribed
image text in transcribed
The cost of producing x teddy bears per day at the Cuddly Companion Co. is calculated by their marketing staff to be given by the formula C(x) = 100 + 44x - 0.08x2. (a) Find the marginal cost function C'(x). C'(x) = Use it to determine how fast the cost is going up (in $) at a production level of 100 teddy bears. $ per teddy bear Compare this with the exact cost of producing the 1015t teddy bear (in $). The cost is increasing at a rate of $ per teddy bear. The exact cost of producing the 1015 teddy bear is $ Thus, there is a difference of $ (b) Find the average cost function C, and evaluate C(100) (in $). C ( x ) = C(100) = $ per teddy bear What does the answer tell you? The average cost of producing the first hundred teddy bears is $ per teddy bear

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

More Books

Students also viewed these Mathematics questions