Question: The marginal cost function for a company is given by C ' ( q ) = q 2 - 1 5 q + 7 0

The marginal cost function for a company is given by C'(q)=q2-15q+70 dollars/unit, where q is the quantity produced. If C(0)=700, find the total cost of producing 20 units. What is the fixed cost and what is the total variable cost for this quantity?
Fixed cost =$
Variable cost of producing 20 units =$
Total cost of producing 20 units =$
The marginal cost function for a company is given

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 Mathematics Questions!

Q:

1) A cup of coffee at 80 C is put into a 20 C room when t = 0. The coffee's temperature is changing at a rate of r(t) = -6.3(0.9t) .C per minute, with t in minutes. Estimate the coffee's temperature...

Q:

10. A company produces miniature luxury cars for children and finds their marginal revenue, in thousands of dollars, is given by R'(q) = snowshoes. 2x + 6q + 2 when they sell q thousand == a. (4 pts)...

Q:

The marginal cost function for a company is given by (7(5)) = q2 139! + 70 dollars / unit, Where q is the quantity produced. If C (O) = 750, nd the total cost of producing 20 units. What is the xed...

Q:

VI. [15 points] The marginal cost function for a company is given by C'(q) = (12 8g + 40 dollars/ unit, Where q is the quantity produced. If 0(0) 2 $500, then (a) What is the xed cost? (b) Use a...

Q:

QUESTION 1 [5 MARKS] A bank lent $200,500 for the development of two products. If the loan for product X was for $50,500 more than that for product Y, how much was lent for product Y? QUESTION 2 [10...

Q:

A bakery finds that the price they can sell cakes is given by the function p = 580 10x where x is the number of cakes sold per day, and p is price. The total cost function of the company is given by...

Q:

QUESTION 3 [10 MARKS] A bakery finds that the price they can sell cakes is given by the function p = 580 10x where x is the number of cakes sold per day, and p is price. The total cost function of...

Q:

bakery finds that the price they can sell cakes is given by the function p = 580 10x where x is the number of cakes sold per day, and p is price. The total cost function of the company is given by c...

Q:

The marginal cost function for a company is given by C'(q)=q^2-10q+30 dollars per box, where q is the number of boxes manufactured. If C(0)=25, find the total cost of manufacturing 10 boxes.

Q:

A bakery finds that the price they can sell cakes is given by the function p = 580 10x where x is the number of cakes sold per day, and p is price. The total cost function of the company is given by...

Q:

At each calendar year- end, Mazie Supply Co. uses the percent of accounts receivable method to estimate bad debts. On December 31, 2013, it has outstanding accounts receivable of $ 55,000, and it...

Q:

Samson Manufacturing Company, a calendar year company, purchased a machine for $65,000 on January 1, 2012. At the date of purchase, Samson incurred the following additional costs: Loss on sale of old...

Q:

rosts that are clearly associated with employees who directly convert materials to finished product are called: Multiple Choice Direct labor. Indirect labor. Contracted labor. All labor. Finished...

Q:

In underwriting, objective risk: a.) Increases with the size of the expected loss. b.)Increases with the size of the pool (the number of covered lives). c.) Decreases with the size of the variance of...