The cost function for production of a commodity is C(x)=339+25x-0.09x^{2}+0.0004x^{3} Find and

wurmiana6d 2021-11-25 Answered
The cost function for production of a commodity is
C(x)=339+25x0.09x2+0.0004x3
Find and interpret C(100)
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oces3y
Answered 2021-11-26 Author has 21 answers
Step 1
Find C
C(x)=339+25x0.09x2+0.0004x3
C(x)=250.18x+0.0012x2
Plug in x=100
C(100)=250.18(100)+0.0012(100)2=19
Step 2
C(100)=19, the approximate cost increase of producing the 101st item when you produce 100 items
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Salvador Fry
Answered 2021-11-27 Author has 12 answers
Step 1
C(x)=0.0004x30.09x2+25x+339
C(x)=0.0012x20.18x+25
C(100)=1218+25=19
Marginal cost at 100 units is $19 per unit.
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