The total cost in dollars to produce q units of a product is C(q) Fixed costs are $20,000 The marginal cost is C '(q) 0 005q 2 q 56 (a) On a graph of C '(q), illustrate graphically the total variable cost of producing 150 units (b) Estimate C(150), the total cost to produce 150 units (c) Find the v...

a The total variable cost of producing 150 units is represented by the area un ...

The total cost in dollars to produce q units of a product is C(q). Fixed costs are

Question:

The total cost in dollars to produce q units of a product is C(q). Fixed costs are $20,000. The marginal cost is

C'(q) = 0.005q² − q + 56.

(a) On a graph of C'(q), illustrate graphically the total variable cost of producing 150 units.
(b) Estimate C(150), the total cost to produce 150 units.
(c) Find the value of C'(150) and interpret your answer in terms of costs of production.
(d) Use parts (b) and (c) to estimate C(151).

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

See More Books

Question Posted: Mar 31, 2023 03:08 AM

See More Questions

A regulation basketball is initially flat and is then inflated to a pressure of approximately 24 lb/in absolute. Consider the air temperature to be constant at 70 F. Find the mass of air required to...
A store sells Q units of a product per year. It costs d dollars to store one unit for a year. To reorder, there is a fixed cost of b dollars, plus c dollars for each unit. How many times per year...
The marginal revenue function on sales of q units of a product is R'(q) = 200 12q dollars per unit. (a) Graph R(q). (b) Estimate the total revenue if sales are 100 units. (c) What is the marginal...
Because of its seemingly insatiable "addiction to oil," in the past the US was and still purchases crude oil primarily from countries in the Middle East. It is said that each day, the average payment...
Data for McCormick Designs, Inc. follow: Requirements 1. Prepare a horizontal analysis of the comparative income statement of McCormick Designs, Inc. Round percentage changes to one decimal place. 2....
A developer of video game software has seven proposals for new games. Unfortunately, the company cannot develop all the proposals because its budget for new projects is limited to $950,000 and it has...
Describe the purpose and process of utilization review.
The following are several independent errors made by a company that uses the periodic inventory system: 1. Goods in transit, purchased on credit and shipped FOB destination, $10,000, were included in...
In January, 1993, there were about 1,313,000 internet hosts. During the next five years, the number of hosts increased by about 100% per year. a. Write a model giving the number h (in millions) of...
Annual coal production in the US (in billion tons per year) is given in the table. Estimate the total amount of coal produced in the US between 1997 and 2009. If r = f(t) is the rate of coal...
Estimate the average value of f(x) from x = a to x = b. 2 1 1 a f(x) b x
The hyperbolic cosine function, denoted cosh x, is used to model the shape of a hanging cable (a telephone wire, for example). It is defined as cosh x = e x + e -x /2. a. Determine its end behavior...
How many waterfalls are there in Iguaz Falls? There are almost Iguaz Falls. Where is it necessary to bring a good jacket (or jacket) because it is very cold? It is necessary to wear a good jacket....
How do you think Xerox was able to motivate its employees through the crisis it faced in 2000?How does a CEO with such a large number of employees communicate priorities to a worldwide workforce?
Desserts by Jacki's variable overhead cost information for pies last quarter was as follows Actual production in pies 18,000 pies Standard variable overhead cost per pie 3/4 hour $5 per hour Actual...
Understand exactly what you are saying, but this business has always had a vendors payable and this method of recording sales has never been an issue until the square loan was incurred. I have...
Explain the direct and indirect costs associated with the budget. Direct Cost Direct Costs: These are costs directly associated with the project. They include Training Material, Salary/Wages, and...
The future values calculated in Questions 2 and 5 are the amounts in your RRSP 20 years from now under two alternatives that have the same cost to you. Comment on the outcome. What is your response...
Determine the volume of the parallelepiped of Fig. 3.25 when (a) P = 4i 3j + 2k, Q = 2i 5j + k, and S = 7i + j k, (b) P = 5i j + 6k, Q = 2i + 3j + k, and S = 3i 2j + 4k. P
The function has one relative minimum point for x 0. Find it. f(x)=x - 6x + 10
A closed rectangular box is to be constructed with one side 1 meter long. The material for the top costs $20 per square meter, and the material for the sides and bottom costs $10 per square meter....
In Exercises, x and y are related by the given equation. Use implicit differentiation to calculate the value of dy/dx for the given values of x and y. x 2 - xy 3 = 20; x = 5, y = 1
What does this entry accomplish: debit capital; credit withdrawals?
The corporate client you are organising the series of management training sessions for wants the GST component of each item in the quote listed separately. Venue hire is $2,300 per day including GST....
Why is it important to clearly define the objectives of analyzing the financial reports of a specific organization?

The total cost in dollars to produce q units of a product is C(q). Fixed costs are

Question:

Step by Step Answer:

a The total variable cost of producing 150 units is represented by the area un...View the full answer

Applied Calculus

Students also viewed these Mathematics questions