Assume that it costs a company approximately C(x) = 400,000 + 180x + 0.001x2 dollars to manufacture x smartphones in an hour. (a) Find the marginal cost function. Use it to estimate how fast the cost is increasing when x = 10,000. per smartphone Compare this with the exact cost of producing the 10,001st smartphone. The cost is increasing at a rate of $ per smartphone. The exact cost of producing the 10,001st smartphone is $ Thus, there is a difference of $ (b) Find the average cost function C and the average cost to produce the first 10,000 smartphones. C(x) = C(10,000) = $ (c) Using your answers to par (a) and (b), determine whether the average cost is rising or falling at a production level of 10,000 smartphones. The marginal cost from (a) is ---Select--- than the average cost from (b). This means that the average cost is ---Select--- e at a production level of 10,000 smartphones.

Assume that it costs a company approximately C(x) = 400,000 + 180x + 0.001x2 dollars to manufacture x smartphones in an hour. (a) Find the marginal cost function. Use it to estimate how fast the cost is increasing when x = 10,000. per smartphone Compare this with the exact cost of producing the 10,001st smartphone. The cost is increasing at a rate of $ per smartphone. The exact cost of producing the 10,001st smartphone is $ Thus, there is a difference of $ (b) Find the average cost function C and the average cost to produce the first 10,000 smartphones. C(x) = C(10,000) = $ (c) Using your answers to par (a) and (b), determine whether the average cost is rising or falling at a production level of 10,000 smartphones. The marginal cost from (a) is ---Select--- than the average cost from (b). This means that the average cost is ---Select--- e at a production level of 10,000 smartphones.

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Proudction Costs

Section: Chapter Questions

Problem 8SQP

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Assume that it costs a company approximately C(x) = 400,000 + 140x + 0.003x? dollars to manufacture x smartphones in an hour. (a) Find the marginal cost function. 400,000 – 0.000009 Use it to estimate how fast the cost is increasing when x = 10,000. 2$ per smartphone Compare this with the exact cost of producing the 10,001st smartphone. The cost is increasing at a rate of $ per smartphone. The exact cost of producing the 10,001st smartphone is $ Thus, there is a difference of $ (b) Find the average cost function C and the average cost to produce the first 10,000 smartphones. C(x) = C(10,000) = $ (c) Using your answers to parts (a) and (b), determine whether the average cost is rising or falling at a production level of 10,000 smartphones. -Select--- at a production level of 10,000 smartphones. The marginal cost from (a) is --Select--- than the average cost from (b). This means that the average cost is
Assume that it costs a company approximately C(x) = 400,000 + 160x + 0.002x2 dollars to manufacture x smartphones in an hour. (a) Find the marginal cost function. Use it to estimate how fast the cost is increasing when x = 10,000. $ per smartphone Compare this with the exact cost of producing the 10,001st smartphone. The cost is increasing at a rate of $ per smartphone. The exact cost of producing the 10,001st smartphone is $ Thus, there is a difference of $ (b) Find the average cost function C and the average cost to produce the first 10,000 smartphones. C(x) = C(10,000) = $ (c) Using your answers to parts (a) and (b), determine whether the average cost is rising or falling at a production level of 10,000 smartphones. The marginal cost from (a) is --Select--- v than the average cost from (b). This means that the average cost is ---Select--- v at a production level of 10,000 smartphones. Need Help? Watch It
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