Suppose that the cost function for a commodity is C(x) = 40 + x2 dollars (a) Find

Question:

Suppose that the cost function for a commodity is

C(x) = 40 + x2 dollars

(a) Find the marginal cost at x = 5 units and tell what this predicts about the cost of producing 1 additional unit.

(b) Calculate C(6) - C(5) to find the actual cost of producing 1 additional unit.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Mathematical Applications for the Management Life and Social Sciences

ISBN: 978-1305108042

11th edition

Authors: Ronald J. Harshbarger, James J. Reynolds

See More Books

Question Posted: Feb 09, 2018 06:42 AM

See More Questions

Suppose that the cost function for a commodity is C(x) = 300 + 6x + 1/20 x2 dollars (a) Find the marginal cost at x8 units and tell what this predicts about the cost of producing 1 additional unit....
If the cost function for a commodity is C(x) = x3 - 4x2 + 30x + 20 dollars find the marginal cost at x = 4 units and tell what this predicts about the cost of producing 1 additional unit and 3...
If the cost function for a commodity is C(x) = 1/90 x3 + 4x2 + 4x + 10 dollars find the marginal cost at x = 3 units and tell what this predicts about the cost of producing 1 additional unit and 2...
The object provides methods for the creation of Statement objects that will be used to execute Oracle statements in the next step. a. Statement b. Connection c. DriverManager d. Driver
A hunter aims directly at a target (on the same level) 75.0m away. (a) If the bullet leaves the gun at a speed of 180m/s, by how much will it miss the target? (b) At what angle should the gun be...
What strategies can project managers implement to proactively identify and mitigate potential sources of conflict within globally distributed teams, considering factors such as cultural differences,...
Consider the wine quality of young red wines data in Table B.19. For the purposes of this exercise, ignore regressor $x_{1}$. Perform a thorough residual analysis of these data. What conclusions do...
The counterpart to immobile factors on the supply side would be lack of substitution on the demand side. Imagine an economy where consumers always buy goods in rigid proportionsfor example, one yard...
Your company needs fresh cash (10 Mio ). In the board meeting the CFO was proposing 10,000 bonds with yield to maturity of 100 % for a) 1 or b)2 years with face values of 1,000 and coupons of i) 10...
Mighty Stars produces stars for elementary teachers to reward their students. Mighty Stars' trial balance on June 1 follows: MIGHTY STARS Trial Balance June 1, 2018 June 1 balances in the subsidiary...
1. (a) If the total revenue function for a product is R(x) = 4x, what is the marginal revenue function for that product? (b) What does this marginal revenue function tell us? 2. If the total revenue...
If the cost function for a commodity is C(x) = 300 + 4x + x2 graph the marginal cost function.
The college student senate is sponsoring a spring break Caribbean cruise raffle. The proceeds are to be donated to the Samaritan Center for the Homeless. A local travel agency donated the cruise,...
QUESTION 8 Year 2 Year 1 For the year ended December 31 $8,500 $6,500 Revenues Expenses Net Income 5,500 4,000 At December 31 Year 2 Year 1 Assets $15,500 $9,000 Liabilities Stock Retained Earnings...
5. Kassi Handover purchased as small caf in a northern Texas town with $600,000 of her own money. Help her prepare her T accounts for her first month of operations using the information provided...
Florence Lighting Inc. has to raise some cash using debt financing. The board of directors is discussing what terms and conditions would be appropriate for this new debt issue. They need some...
. Assume that consumers in a nation reduce their marginal propensity to save from 0.25 to 0.2 though their personal incomes initially do not change. How will this change in MPS affect the economy?...
An agency MBS pool is 46 months old, with an original size of $80m, and has a survival factor of 70%. The interest rate of the pool is 5%, and the pool was originally originated with 30-year term...
Solve the nonlinear system of equations. Give all solutions, including those with nonreal complex components. 5x 2 - y 2 = 0 3x 2 + 4y 2 = 0
Assume Eq. 6-14 gives the drag force on a pilot plus ejection seat just after they are ejected from a plane traveling horizontally at 1300 km/h. Assume also that the mass of the seat is equal to the...
Consider the regression model developed in Exercise 11-2. (a) Suppose that temperature is measured in oC rather than oF. Write the new regression model that result. (b) What change in expected...
Montgomery, Peck, and Vining (2001) present data concerning the performance of the 28 National Football League teams in 1976. It is suspected that the number of games won (y) is related to the number...
An article in Techno metrics by S. C. Narula and J. F. Wellington (Prediction, Linear Regression, and a Minimum Sum of Relative Errors, Vol. 19, 1977) presents data on the selling price and annual...
Explain how the OS and Utility programs work with application software. Summarize the features of several embedded operating systems course: introduction to information technology code: EBI...
Please explain and describe what are input and output devices. Explain what the differences are between an operating system, an embedded operating system, and a network operating system. Explain and...
Determine the complexity of the following pseudocode snippets in Big-O and Big-Q2. Do these code snippets have a Big-e? What are the functions doing? 1) my_func(some_nums) result = 0 for (num in...

Suppose that the cost function for a commodity is C(x) = 40 + x2 dollars (a) Find

Question:

Step by Step Answer:

a Cx 40 x 2 MC Cx 2x C5 ...View the full answer

Mathematical Applications for the Management Life and Social Sciences

Students also viewed these Calculus questions