Suppose that the cost function for a commodity is C(x) = 300 + 6x + 1/20 x2
Question:
C(x) = 300 + 6x + 1/20 x2 dollars
(a) Find the marginal cost at x8 units and tell what this predicts about the cost of producing 1 additional unit.
(b) Calculate C(9) - C(8) to find the actual cost of producing 1 additional unit.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (12 reviews)
Cx 300 6x 120 x 2 a MC Cx 6 110x When ...View the full answer
Answered By
Muhammad Salman Alvi
Well, I am a student of Electrical Engineeing from Information Technology University of Punjab. Just getting into my final year. I have always been good at doing Mathematics, Physics, hardware and technical subjects. Teaching profession requires a alot of responsibilities and challenges.
My teaching experience started as an home tutor a year ago. When I started teaching mathematics and physic subjects to an O Level student. He was about 14 years old. His name was Ibrahim and I used to teach him for about 2 hours daily. Teaching him required a lot of patience but I had to be polite with him. I used to give him a 5 min break after 1 hour session. He was quite weak in basic maths and calculation. He used to do quite a lot of mistakes in his homework which I gave him weekly. So I decided to teach him basics from scratch. He used to say that he got the concept even if he didn't. So I had to ask him again and again. I worked on his basics for a month and after that I started taking a weekly test sesions. After few months he started to improve gradually. Now after teaching him for about a year I can proudly say that he has improved alot. The most important thing was he managed to communicate all the difficullties he was facing. He was quite capable and patient. I had a sincere desire to help him reach to its full potential. So I managed to do that. We had a very good honest relationship of a student and a teacher. I loved teaching him as a tutor. Now having an experience of one year teaching I can read students quite well. I look forward to work as an online tutor who could help students in solving their all sort of difficulties, problems and queries.
4.90+
29+ Reviews
43+ Question Solved
Related Book For
Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds
Question Posted:
Students also viewed these Calculus questions
-
Suppose that the cost function for a commodity is C(x) = 40 + x2 dollars (a) Find the marginal cost at x = 5 units and tell what this predicts about the cost of producing 1 additional unit. (b)...
-
If the cost function for a commodity is C(x) = x3 - 4x2 + 30x + 20 dollars find the marginal cost at x = 4 units and tell what this predicts about the cost of producing 1 additional unit and 3...
-
If the cost function for a commodity is C(x) = 1/90 x3 + 4x2 + 4x + 10 dollars find the marginal cost at x = 3 units and tell what this predicts about the cost of producing 1 additional unit and 2...
-
To load and register a driver, creating a new instance of the Driver class method is better than using the Class.forName() method. (True/False)
-
Determine how much farther a person can jump on the Moon as compared to the Earth if the takeoff speed and angle are the same. The acceleration due to gravity on the Moon is one-sixth what it is on...
-
Briefly discuss why a marketing manager should think about who is likely to be involved in the buying center for a particular purchase. Is the buying center idea useful in consumer buying? Explain...
-
You are evaluating a project which will cost $3,000 and has an expected future cash flow of $700 per year, forever, if we start it immediately. If we wait one year to start the project, the cost will...
-
Shown below are the T-accounts relating to equipment that was purchased for cash by a company on the first day of the current year. The equipment was depreciated on a straight-line basis with an...
-
What is the 90% confidence interval for the weight of house cats, if a sample of one hundred house cats had an averag weight of eleven pounds and the population standard deviation is two pounds? O0.2...
-
A market research firms three clients each requested that the firm conduct a sample survey. Four available statisticians can be assigned to these three projects; however, all four statisticians are...
-
1. (a) If the total revenue function for a product is R(x) = 4x, what is the marginal revenue function for that product? (b) What does this marginal revenue function tell us? 2. If the total revenue...
-
If the cost function for a commodity is C(x) = 300 + 4x + x2 graph the marginal cost function.
-
SR 8.28 How can you determine if the user has double clicked the mouse button?
-
Understanding the nature of fixed and variable costs is extremely important to managers. This knowledge is used in planning, making strategic and tactical decisions, evaluating performance, and...
-
Alaia Docherty is a single resident taxpayer who is employed as a tour guide by Ocean World. Alaia also holds investments including shares and real estate and has provided details of transactions...
-
The standard cost card shows the following details relating to material needed to produce 1kg of sunflower oil: Quantity of sunflower oil required: 3kg Price of sunflower oil: 2.5/kg Actual...
-
Three (3) pounds of direct materials is needed to produce one unit. Irrigation likes to keep 5% of the materials needed for the next month's production in its ending inventory. Raw materials on hand...
-
1. One thousand shares of $10 par capital stock issued for $15 per share will be presented on the balance sheet as common stock subscribed of $15,000. paid-in capital of $15,000. common stock of...
-
Set up, but do not evaluate, an integral to find the length of the portion of the curve shown in blue. r = cos(0/5)
-
Burberrys competitive advantage is through its differentiation strategy. What risk should Burberry remain aware of?
-
The number of pounds of steam used per month by a chemical plant is thought to be related to the average ambient temperature (inoF) for that month. The past years usage and temperature are shown in...
-
The data shown in the following table are highway gasoline mileage performance and engine displacement for a sample of 20 cars. (a) Fit a simple linear model relating highway miles per gallon (y) to...
-
An article in the Tappi Journal (March, 1986) presented data on green liquor Na2S concentration (in grams per liter) and paper machine production (in tons per day) Te data read from a graph) are...
-
The next eight questions cover income tax filing requirements for Oregon Larry is 26 years old and will use the single filing status. He was a full-year resident of Oregon and has no dependents. For...
-
As a junior associate for a CPA firm, you are asked to fomulate a plan for a client about audit services. The client has a passing knowledge of internal and external risks, the Sarbanes-Oxley Act,...
-
During the month of June?, Richardson?, Inc. had transactions that resulted in the following amounts being recorded in its Cash? account; (1) $ 1 comma 800 ?debit, (2) $ 450 ?credit, (3) $ 325...
Study smarter with the SolutionInn App