t Suppose that the monthly cost, in dollars, of producing x chairs is C(x)=0.005x3+0.07x2+15x+600, and currently 35 chairs are produced monthly. a) What is the current monthly cost? b) What is the marginal cost when x=35? c) Use the result from part (b) to estimate the monthly cost of increasing production to 37 chairs per month. d) What would be the actual additional monthly cost of increasing production to 37
t Suppose that the monthly cost, in dollars, of producing x chairs is C(x)=0.005x3+0.07x2+15x+600, and currently 35 chairs are produced monthly. a) What is the current monthly cost? b) What is the marginal cost when x=35? c) Use the result from part (b) to estimate the monthly cost of increasing production to 37 chairs per month. d) What would be the actual additional monthly cost of increasing production to 37
Chapter6: Proudction Costs
Section: Chapter Questions
Problem 8SQP
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Please I need help on the math question I don't ge it Suppose that the monthly cost, in dollars, of producing x chairs is
C(x)=0.005x3+0.07x2+15x+600,
and currently
35
chairs are produced monthly.
a)
|
What is the current monthly cost?
|
b)
|
What is the marginal cost when
x=35?
|
c)
|
Use the result from part (b) to estimate the monthly cost of increasing production to
37
chairs per month. |
d)
|
What would be the actual additional monthly cost of increasing production to
37
chairs monthly? |
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