Question: Q6. For the cost function C (x) = (2&x) + x^2/( 900) determine The cost at the production level 425 units of output= The average

Q6. For the cost function C (x) = (2&x) + x^2/( 900) determine

The cost at the production level 425 units of output=

The average cost at the production level 425 units of output=

The marginal cost at the production level 425 units of output=

Q7. An exporter of Japanese tea estimates that consumers will buy approximately D(p)=2565p^2 pounds of tea per week when the price is p dollars per pound.

A) At what rate will the demand of tea be changing with respect to price $ (p) per pound when the price is $5.00? (Ignore negative sign since negative prices do not have any economic interpretation)

B) It is also estimated that t weeks from now, the price of Japaneses tea will be p(t)=0.10t^2+0.05t+10 dollars per pound. At what rate will the price for coffee be changing with respect to weeks (t) when it is 9 weeks from now?

Please provide clear answer for both questions with written solutions.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!