Economics—Cost Function: The Dirt Rocket Company produces spokes for off-road motorcycles. It determines that the daily cost in dollars of producing x quick-replace spokes is
C(x) = 1250 + 3x
(a) What are the fixed and variable costs for producing the spokes?
(b) Evaluate C(400), and interpret.
(c) How many spokes can be produced for $1820?
(d) What is the marginal cost for the spokes?
(e) If the current daily production level is 100 spokes, what is the cost in dollars of producing the 101st spoke?
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