The cost (in dollars) of producing q items is given by C(q) = 0.08q 3 + 75q
Question:
The cost (in dollars) of producing q items is given by
C(q) = 0.08q3 + 75q + 1000.
(a) Find the marginal cost function.
(b) Find C(50) and C¨(50). Give units with your answers and explain what each is telling you about costs of production.
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Step by Step Answer:
a The marginal cost function equals Cq 0083q 2 75 024q 2 75 b C50 00850 3 7550 1000 14750 C50 te...View the full answer
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Related Book For 
Applied Calculus
ISBN: 9781119275565
6th Edition
Authors: Deborah Hughes Hallett, Patti Frazer Lock, Andrew M. Gleason, Daniel E. Flath, Sheldon P. Gordon, David O. Lomen, David Lovelock, William G. McCallum, Brad G. Osgood, Andrew Pasquale
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