Minimizing Marginal Cost The marginal cost of a product can be thought of as the cost of
Chapter 4, Problem 77(choose chapter or problem)
Minimizing Marginal Cost The marginal cost of a product can be thought of as the cost of producing one additional unit of output. For example, if the marginal cost of producing the 50th product is $6.20, it cost $6.20 to increase production from 49 to 50 units of output. Suppose the marginal cost C (in dollars) to produce x thousand mp3 players is given by the function (a) How many players should be produced to minimize the marginal cost? (b) What is the minimum marginal cost?
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