Question: Step by step please The cost function C(x) = 30+ 70x - 1,000 gives the cost in dollars to produce x units of a commodity.
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The cost function C(x) = 30+ 70x - 1,000 gives the cost in dollars to produce x units of a commodity. a. Find the marginal cost when the production level is x - 50 units. When they produce 50 units, the marginal costs is -Select Units- In other words, the approximate cost to produce the 51st unit is dollars. b. Find the average cost per unit when they produce 50 units. When they produce 50 units, the average cost per unit is dollars. c. Fill in the blanks: Since the marginal cost is ---------Select Units- the average cost per unit, increasing production from 50 units will cause the average cost per unit to -Select Units
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