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.
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