The cost of producing a quantity, q, of a product is given by C(q) = 1000 +

Question:

The cost of producing a quantity, q, of a product is given by

C(q) = 1000 + 30e0.05q dollars.

Find the cost and the marginal cost when q = 50. Interpret these answers in economic terms.

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

Step by Step Answer:

Related Book For  book-img-for-question

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

Question Posted: