when no more than 110 units are produced, the cost of producing x units is given by C(x)=
2.If C(x) is the cost of producing x units of a commodity, then the average cost per unit is c(x) = C(x)/x. Consider the cost function C(x) given below. C(x) = 24,000 + 290x + 6x3/2 (a) Find the total cost at a production level of 1000 units. (Round your answer to the nearest cent.) $ (b) Find the average cost at a production level of 1000 units. (Round your answer to the nearest cent.) $ per unit (c) Find...
3. The total cost for producing x items is given by C(x) = 3x2 + 15x + 75. a. 8 pts How many items must be produced to minimize average cost? Show all work, including verifying that the value you found corresponds to a minimum. Answers from a graph or calculator will not receive full credit. b. 2 pts What is the minumum average cost (include units)? c. 6 pts What is the marginal cost at the production level you...
C(x) is the total cost of producing x units of a particular commodity. Assume C(x) is in dollars. Use marginal cost to estimate the cost of producing the 4 st unit. What is the actual and estimated cost of producing the 4 st unit? 6) C(x) = 2x2 + 3x + 62 6) A) estimated cost = $11.00; B) estimated cost = $11.00; actual cost = $10.80 actual cost - $11.20 C) estimated cost = $10.80; D) estimated cost-$11.20; actual...
The cost of producing x units of a product is modeled by the following. C = 110 + 45x – 180 In(x), X21 (a) Find the average cost function C. o (b) Find the minimum average cost analytically. Use a graphing utility to confirm your result. (Round your answer to two decimal places.)
An accessories company finds that the cost, in dollars, of producing x belts is given by C(x) = 790 +31x-0.067x?. Find the rate at which average cost is changing when 178 belts have been produced. First, find the rate at which the average cost is changing when x belts have been produced. C'(x)=0
D Question 1 1 pts If the cost of a certain product is given by C(x) - 130.4x find the marginal average cost function and use it to compute the marginal average cost of production when 5 items are produced. Give answer rounded to two decimal places. (1 point) Question 2 1 pts Gluen y = [lx' +2x + 4)(x + 1)l' calculate the derivative of this function when x 2 The derivative is L? (1 point 1 pts Question...
Question 3 13 pts Given the following cost function where x is thousands of units produced C(x) = 20x3 – 180x² + 480x – 250 a) Find any Intervals where the cost is increasing or decreasing. (label which interval is which) b) How many units should be produced to minimize the cost? c) Find the minimum cost.
Principle 1:Verbally and graphically describe the Opportunity Cost of producing MORE of some product. Principle 1 verbally stated: If MORE of some product X is produced, then the Opportunity Cost of producing more one product X is the Quantity of another product Y that cannot be produced by the resources used to produce MORE of product X. Now, Draw a Production Possibilities curve to graphically illustrate the Opportunity cost of producing more of a product (already drawn, but you have to show how Opportunity Cost...
If the total cost function for producing x lamps is C(x) = 3920 + 36x + 0.8x? dollars, producing how many units, x, will result in a minimum average cost per unit? X units Find the minimum average cost per unit. $
If the total cost function for producing x lamps is C(x) = 90 + 34x + 0.1x2 dollars, producing how many units, x, will result in a minimum average cost per unit? units Find the minimum average cost per unit. $