Suppose that the cost function for a commodity is C(x) = 300 + 6x + 0.05x 2

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Suppose that the cost function for a commodity is

C(x) = 300 + 6x + 0.05x² dollars

(a) Find the marginal cost at x = 8 units and tell what this predicts about the cost of producing 1 additional unit.

(b) Calculate C(9) - C(8) to find the actual cost of producing 1 additional unit.

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Mathematical Applications For The Management, Life And Social Sciences

ISBN: 9781337625340

12th Edition

Authors: Ronald J. Harshbarger, James J. Reynolds

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Question Posted: Oct 29, 2020 06:42 AM

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Suppose that the cost function for a commodity is C(x) = 300 + 6x + 0.05x 2

Question:

Step by Step Answer:

Cx 300 6x 120 x 2 a MC Cx 6 110x Whe...View the full answer

Mathematical Applications For The Management, Life And Social Sciences

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