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A linear cost function is C(x) = 9x + 250. (Assume C is measured in dollars.) (a) What are the slope and the C-intercept? slope C-intercept (b) What is the marginal cost MC? MC = What does the marginal cost mean? Each additional unit produced reduces the cost by this much (in dollars). If production is increased by this many units, the cost decreases by $1. If production is increased by this many units, the cost increases by $1. Each additional unit produced costs this much (in dollars). (c) What are the fixed costs? (d) How are your answers to parts (a), (b), and (c) related? C-intercept marginal cost slope slope marginal cost, and C-intercept = fixed costs slope = fixed costs, and C-intercept = marginal cost slope C-intercept = = marginal cost (e) What is the cost of producing one more item if 50 are currently being produced? What is the cost of producing one more item if 100 are currently being produced?

A linear cost function is C(x) = 9x + 250. (Assume C is measured in dollars.) (a) What are the slope and the C-intercept? slope C-intercept (b) What is the marginal cost MC? MC = What does the marginal cost mean? Each additional unit produced reduces the cost by this much (in dollars). If production is increased by this many units, the cost decreases by $1. If production is increased by this many units, the cost increases by $1. Each additional unit produced costs this much (in dollars). (c) What are the fixed costs? (d) How are your answers to parts (a), (b), and (c) related? C-intercept marginal cost slope slope marginal cost, and C-intercept = fixed costs slope = fixed costs, and C-intercept = marginal cost slope C-intercept = = marginal cost (e) What is the cost of producing one more item if 50 are currently being produced? What is the cost of producing one more item if 100 are currently being produced?

Calculus For The Life Sciences
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter4: Calculating The Derivative
Section4.4: Derivatives Of Exponential Functions
Problem 56E
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A linear cost function is C(x) = 9x + 250. (Assume C is measured in dollars.) (a) What are the slope and the C-intercept? slope C-intercept (b) What is the marginal cost MC? MC = What does the marginal cost mean? Each additional unit produced reduces the cost by this much (in dollars). O If production is increased by this many units, the cost decreases by $1. O If production is increased by this many units, the cost increases by $1. Each additional unit produced costs this much (in dollars). (c) What are the fixed costs? (d) How are your answers to parts (a), (b), and (c) related? C-intercept marginal cost slope = = slope marginal cost, and C-intercept O slope = fixed costs, and C-intercept = marginal cost slope C-intercept = marginal cost = fixed costs (e) What is the cost of producing one more item if 50 are currently being produced? $ What is the cost of producing one more item if 100 are currently being produced? $
Transcribed Image Text:A linear cost function is C(x) = 9x + 250. (Assume C is measured in dollars.) (a) What are the slope and the C-intercept? slope C-intercept (b) What is the marginal cost MC? MC = What does the marginal cost mean? Each additional unit produced reduces the cost by this much (in dollars). O If production is increased by this many units, the cost decreases by $1. O If production is increased by this many units, the cost increases by $1. Each additional unit produced costs this much (in dollars). (c) What are the fixed costs? (d) How are your answers to parts (a), (b), and (c) related? C-intercept marginal cost slope = = slope marginal cost, and C-intercept O slope = fixed costs, and C-intercept = marginal cost slope C-intercept = marginal cost = fixed costs (e) What is the cost of producing one more item if 50 are currently being produced? $ What is the cost of producing one more item if 100 are currently being produced? $
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