Suppose that the cost function for a commodity is C(x) = 300 + 6x + 1/20 x2
Question:
C(x) = 300 + 6x + 1/20 x2 dollars
(a) Find the marginal cost at x8 units and tell what this predicts about the cost of producing 1 additional unit.
(b) Calculate C(9) - C(8) to find the actual cost of producing 1 additional unit.
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Cx 300 6x 120 x 2 a MC Cx 6 110x When ...View the full answer
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Related Book For 
Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds
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