Business Management—Cost Analysis: The Kanky-Krank Company determines that its weekly cost of producing automatic transmissions for cars is given by the cost function
C(x) = 55,000 + 600x − 1.25x2 0 ≤ x ≤ 230
where x represents the number of transmissions produced each week, and C(x) represents the cost in dollars.
(a) Compute the average rate of change in cost as daily production increases from 180 to 210 transmissions per day.
(b) Approximate the instantaneous rate of change in cost at a production level of 210 transmissions a day.
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