Question: Question 1 2 , 1 . 8 . 2 9 - BE Part 1 of 4 points rk 3 Points: 0 of 1 Consider the

Question 12,1.8.29-BE
Part 1 of 4
points
rk 3
Points: 0 of 1
Consider the cost function C(x)=6x2+12x+16(thousand dollars).
a) What is the marginal cost at production level x=6?
b) Use the marginal cost at x=6 to estimate the cost of producing 6.50 units.
c) Let R(x)=-x2+36x+32 denote the revenue in thousands of dollars generated from the production of x units. What is the break-even point? (Recall that the break-even point is when the revenue is equal to the cost.)
d) Compute and compare the marginal revenue and marginal cost at the break-even point. Should the company increase production beyond the break-even point?
a) The marginal cost at production level x=6 is $
Question 1 2 , 1 . 8 . 2 9 - BE Part 1 of 4

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 Economics Questions!