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It costs a company $30,000 to begin production of a good,

Functions Modeling Change: A Preparation for Calculus | 5th Edition | ISBN: 9781118583197 | Authors: Eric Connally ISBN: 9781118583197 179

Solution for problem 11.4.35 Chapter 11

Functions Modeling Change: A Preparation for Calculus | 5th Edition

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Functions Modeling Change: A Preparation for Calculus | 5th Edition | ISBN: 9781118583197 | Authors: Eric Connally

Functions Modeling Change: A Preparation for Calculus | 5th Edition

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Problem 11.4.35

It costs a company $30,000 to begin production of a good, plus $3 for every unit of the good produced. Let be the number of units produced by the company. (a) Find a formula for (), the total cost for the production of units of the good. (b) Find a formula for the companys average cost per unit, (). (c) Graph = () for 0 < 50,000, 0 10. Label the horizontal asymptote. (d) Explain in economic terms why the graph of has the long-run behavior that it does. (e) Explain in economic terms why the graph of has the vertical asymptote that it does. (f) Find a formula for 1(). Give an economic interpretation of 1(). (g) The company makes a profit if the average cost of its good is less than $5 per unit. Find the minimum number of units the company can produce and make a profit.

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Textbook: Functions Modeling Change: A Preparation for Calculus
Edition: 5
Author: Eric Connally
ISBN: 9781118583197

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It costs a company $30,000 to begin production of a good,

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