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
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 + 36x - 0.06x2. (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 101" teddy bear (in $). The cost is increasing at a rate of $ per teddy bear. The exact cost of producing the 101" teddy bear is $ Thus, there is a difference of $ (b) Find the average cost function C, and evaluate C(100) (in $). C(x) = (100) = $ per teddy bear What does the answer tell you? The average cost of producing the first hundred teddy bears is $ per teddy bear. Need Help? Read It Watch It

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

Calculus Early Transcendentals

Authors: William L. Briggs, Lyle Cochran, Bernard Gillett

2nd edition

321954428, 321954424, 978-0321947345

More Books

Students also viewed these Mathematics questions

Question

Find the formula for the characteristic polynomial of a 2 2 matrix.

Answered: 1 week ago

Question

d-1 2d+1 7 14. Simplify 1

Answered: 1 week ago