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RE Marginal and average cost Suppose the cost of producing Problem 62RE Chapter 3

Calculus: Early Transcendentals | 1st Edition

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Problem 62RE

RE Marginal and average cost Suppose? the cost of producing ?x? lawnmowers is C?(? ?) = ?0.02x + 400?x? + 5000. a.? Determine the average and marginal costs for ?x? = 3000 lawnmowers. b.? Interpret the meaning of your results in part (a).

Step-by-Step Solution:

Solution Step 1 2 Let the cost of prod cing lawnmowe rs is ( ) = .02x + 400x + 5000. (a)The average cost is given by c(x) c(x) 2 x x = c= 0.02x + x00x + 5000. 5000 =0.02x+400+ x Hence the average cost for x=3000 is c(3000)=0.02(3000)+400+ 3000 = \$ 341.67 Step 2: The marginal cost is given by c’(x)= (c(x)) dx = dx( 0.02x + 400x + 5000.) =(0.02(2x)+400) =(-0.04x+400) The marginal cost at x=3000 is c’(3000)=(-0.04(3000)+400) =\$280

Step 3 of 3

ISBN: 9780321570567

The answer to “RE Marginal and average cost Suppose? the cost of producing ?x? lawnmowers is C?(? ?) = ?0.02x + 400?x? + 5000. a.? Determine the average and marginal costs for ?x? = 3000 lawnmowers. b.? Interpret the meaning of your results in part (a).” is broken down into a number of easy to follow steps, and 43 words. This textbook survival guide was created for the textbook: Calculus: Early Transcendentals, edition: 1. Since the solution to 62RE from 3 chapter was answered, more than 262 students have viewed the full step-by-step answer. The full step-by-step solution to problem: 62RE from chapter: 3 was answered by Sieva Kozinsky, our top Calculus solution expert on 03/03/17, 03:45PM. Calculus: Early Transcendentals was written by Sieva Kozinsky and is associated to the ISBN: 9780321570567. This full solution covers the following key subjects: average, cost, lawnmowers, Marginal, interpret. This expansive textbook survival guide covers 85 chapters, and 5218 solutions.

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