C(x)=5,000+20x-1/4x^2 is a cost function.Calculate the marginal average cost when 20 (a), use your result to estimate the total cost when x=21 (b)

Lennie Carroll

Lennie Carroll

Answered question

2021-09-07

C(x)=5,000+20x14x2
is a cost function.
Calculate the marginal average cost when 20

(a), use your result to estimate the total cost when x=21

(b) and calculate the percentage error between this estimate and the actual cost when x=21

Answer & Explanation

StrycharzT

StrycharzT

Skilled2021-09-08Added 102 answers

C(x)=5,000+20x14x2
C(x)x=?
C(x)x
=5,000+20x14x2x
=5000x+2014x
C(x)=d(5000x+2014x)dx
=5000x214
So C(20)=5000x214
=12.50.25
=12.75
And C(20)=500020+2014(20)=265 (a)
C(21)=C(20)+C(20)
=26512.75
=252.25
C2121=252.25
C(21)=5297.25 (b)
CE=5000+20(21)14(21)2
=5309.75
5309.755297.255309.75×100=0.24% (c)

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