Question

Use differentials to approximate the change in cost corresponding to an increase in sales (or production) of one unit. Then c
0 0
Add a comment Improve this question Transcribed image text
Answer #1

a)

we have

C=0.075x^2+6x+7

dC dr d -0.075.c? + 6x + 7 dc

dC = 0.15.1 + 6 dr

dC = (0.15.0 + 6) dc

put x = 10 and dx = 1,

dC=(0.15(10)+6)(1)

dC=7.5 .......................i)

the actual change in cost,

C=f(x)=0.075x^2+6x+7

so,

f(10)=0.075(10)^2+6(10)+7=74.5

f(11)=0.075(11)^2+6(11)+7=82.075

now

\Delta C=f(x+\Delta x)-f(x)

put x = 10 and del x = 1,

\Delta C=f(10+1)-f(10)

\Delta C=f(11)-f(10)

\Delta C=82.075-74.5

\Delta C=7.575

\Delta C=7.58 ...........................ii)

b)

a)

we have

R=50x-1.5x^2

\frac{dR}{dx}=\frac{d}{dx}50x-1.5x^2

\frac{dR}{dx}=50-3x

dR=(50-3x)dx

put x = 15 and dx = 1,

dR=(50-3(15))(1)

dR=5  .......................i)

the actual change in revenue,

R=f(x)=50x-1.5x^2

so,

f(15)=50(15)-1.5(15)^2=412.5

f(16)=50(16)-1.5(16)^2=416

now

\Delta R=f(x+\Delta x)-f(x)

put x = 15 and del x = 1,

\Delta R=f(15+1)-f(15)

\Delta R=f(16)-f(15)

\Delta R=416-412.5

\Delta R=3.5 ...........................ii)

Add a comment
Know the answer?
Add Answer to:
Use differentials to approximate the change in cost corresponding to an increase in sales (or production)...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Use differentials to approximate the change in profit corresponding to an increase in sales (or production)...

    Use differentials to approximate the change in profit corresponding to an increase in sales (or production) of one unit. Then compare this with the actual chang in profit. Function x-Value P=-0.2x2 + 200x - 80 X = 40 dp = dollars AP = dollars Need Help? Read it Watch Tak to a Tutor 4. [1/2 Points) DETAILS PREVIOUS ANSWERS LARAPCALC10 3.8.034. MY NOTES PRACTICE ANOTHER The revenue R for a company selling x units is R = 800x - 0.1x?...

  • Because the derivative of a function represents both the slope of the tangent to the curve...

    Because the derivative of a function represents both the slope of the tangent to the curve and the instantaneous rate of change of the function, it is possible to use information about one to gain information about the other. Consider the graph of the function y = f(x) given in the figure. (a) Over what interval(s) (a) through (d) is the rate of change of f(x) positive? (Select all that apply.) OOOO (b) Over what interval(s) (a) through (d) is...

  • Consider the following function. f(t)4t5 Find its average rate of change over the interval [1, 4] At Compare t...

    Consider the following function. f(t)4t5 Find its average rate of change over the interval [1, 4] At Compare this rate with the instantaneous rates of change at the endpoints of the interval f(4) Need Help? Read It Watch It Talk to a Tutor Consider the following function f(x)x18x 2 Find its average rate of change over the interval [-9, 1]. Ay Ax Compare this rate with the instantaneous rates of change at the endpoints of the interval f-9) f(1) Need...

  • The demand function for a product is p= 108 - 0.2x where p is the price...

    The demand function for a product is p= 108 - 0.2x where p is the price per unit(in dollars) and x is the number of units. a. Use differentials to approximate the change in revenue as sales increase from 20 units to 21 units. Compare this the actual change in revenue. b. Repeat step (a) when sales increase from 40 units to 41 units.

  • A commodity has a demand function modeled by p = 280 − 0.4x, and a total...

    A commodity has a demand function modeled by p = 280 − 0.4x, and a total cost function modeled by C = 80x + 120, where x is the number of units. (a) What price yields a maximum profit? (b) Find the average cost per unit when x = 50 and x = 650. (c) Determine when the demand is elastic, inelastic, and of unit elasticity. (d) Use differentials to approximate the change in revenue as sales increase from 210...

  • A commodity has a demand function modeled by p=280 -0.44, and a total cost function modeled...

    A commodity has a demand function modeled by p=280 -0.44, and a total cost function modeled by C-80g + 120, where is the member of units. ) What price yields a maximum profil? $24880 b) Find the average cost per unit when - 50. - inelastic x1 and of unit elasticity Determine when the demand is elastic (Une interval notations only, where applicable) Uwe differentials to approximate the change in revenue as sales increase from 210 units to 220 units....

  • 5. -/6 points HARMATHAP12 9.9.020,MI. If the cost function for a commodity is 3 + 6x2...

    5. -/6 points HARMATHAP12 9.9.020,MI. If the cost function for a commodity is 3 + 6x2 + 6x + 20 dollars find the marginal cost MC at x = 9 units. (Round your answer to two decimal places.) MC = $ Tell what the marginal cost predicts about the cost of producing 1 additional unit. The cost of producing 1 additional unit is $ Tell what the marginal cost predicts about the cost of producing 2 additional units. The cost...

  • Just need help with 41! 41: A) What is the rate of change of price with...

    Just need help with 41! 41: A) What is the rate of change of price with respect to the quantity demanded when q=49? B) Interpret your answer. 37. Revenue The revenue from the sale of a product is R = 1500x + 3000(2x + 3)-1 - 1000 dollars where x is the number of units sold. Find the marginal revenue when 100 units are sold. Interpret your result. 38. Revenue The revenue from the sale of x units of a...

  • 24. [-17 Points] DETAILS HARMATHAP12 9.9.027. MY NOTES PRACTICE ANOTHER Cost, revenue, and profit are in...

    24. [-17 Points] DETAILS HARMATHAP12 9.9.027. MY NOTES PRACTICE ANOTHER Cost, revenue, and profit are in dollars and x is the number of units. Suppose that the total revenue function for a product is R(x) - S0x and that the total cost function is C[x) - 2200 + 30x + 0.01x2 (a) Find the profit from the production and sale of 500 units. $ (b) Find the marginal profit function, (c) Find MP at x = 500 MP- Explain what...

  • tagsautosave question2304213 0 11. -POINTS TANAPCALC9 6.4.041. MY NOTES A division of Ditton Industries manufactures a...

    tagsautosave question2304213 0 11. -POINTS TANAPCALC9 6.4.041. MY NOTES A division of Ditton Industries manufactures a deluxe toaster oven Management has determined that the daily marginal cost function associated with producing these toaster ovens is given by CYx) = 0.00062 -0.12+ 20 where c'ex) is measured in dollars per unit and x denotes the number of units produced. Management has also determined that the daily fed cost incurred in the production is $800. (a) Find the total cost incurred by...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
Active Questions
ADVERTISEMENT