The marginal cost of a product can be thought of as the cost of producing one additional
Question:
The marginal cost of a product can be thought of as the cost of producing one additional unit of output. For example, if the marginal cost of producing the 50th product is $6.20, it cost $6.20 to increase production from 49 to 50 units of output. Suppose the marginal cost C (in dollars) to produce x thousand mp3 players is given by the function
C(x) = x2 - 140x + 7400
(a) How many players should be produced to minimize the marginal cost?
(b) What is the minimum marginal cost?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Cx x 2 140x 7400 a a 1 b 140 c 7400 Since a 1 ...View the full answer
Answered By
Joan Gakii
I'm a meticulous professional writer with over five years writing experience. My skill set includes
- Digital Content,
- Interpersonal Communication,
- Web Content and academic Writing,
- Proofreading,
- Editing,
- Project Management, and
- Public Relations.
7+ Reviews
12+ Question Solved
Related Book For 
Question Posted:
