Suppose that the total cost of manufacturing r units of a certain commodity is C(x) = 2r + 6.r + 12. Use differentials to approximate the cost of producing the 21st unit. Compare this estimate with the cost of actually producing the 21st unit. %3D
Suppose that the total cost of manufacturing r units of a certain commodity is C(x) = 2r + 6.r + 12. Use differentials to approximate the cost of producing the 21st unit. Compare this estimate with the cost of actually producing the 21st unit. %3D
Chapter6: Proudction Costs
Section: Chapter Questions
Problem 8SQ
Related questions
Question
100%
![2.22 Suppose that the total cost of manufacturing x units of a certain commodity is
C(x) = 2r + 6.r + 12. Use differentials to approximate the cost of producing the
21st unit. Compare this estimate with the cost of actually producing the 21st unit.
2.23 A manufacturer's total cost is C(x) = 0.1.r – 0.25x² + 300x + 100 dollars, where
x is the level of production. Estimate the effect on the total cost of an increase in the
level of production from 6 to 6.1 units.
2.24 It is estimated that years from now, the population of a certain town will be
F(1) = 40 - (8/(! + 2)]. Use differentials to estimate the amount by which the
population will increase during the next six months.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F79765b6c-0314-47be-b611-dd56c6bb8d58%2F2cbb5852-b91f-4e9a-922a-377942208e1f%2F743qtbo_processed.jpeg&w=3840&q=75)
Transcribed Image Text:2.22 Suppose that the total cost of manufacturing x units of a certain commodity is
C(x) = 2r + 6.r + 12. Use differentials to approximate the cost of producing the
21st unit. Compare this estimate with the cost of actually producing the 21st unit.
2.23 A manufacturer's total cost is C(x) = 0.1.r – 0.25x² + 300x + 100 dollars, where
x is the level of production. Estimate the effect on the total cost of an increase in the
level of production from 6 to 6.1 units.
2.24 It is estimated that years from now, the population of a certain town will be
F(1) = 40 - (8/(! + 2)]. Use differentials to estimate the amount by which the
population will increase during the next six months.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Essentials of Economics (MindTap Course List)
Economics
ISBN:
9781337091992
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
