2. Consider a firm producing a single commodity. The total cost c(q) of producing the commodity, in 5q² units of € 1000, can be described by the equation c = +5. Here, q denotes the amount produced, 9+3 in units of 1000 pieces. a. Calculate the marginal cost at q = 3. b. Describe the economic meaning of this result. Be precise! c. Calculate on the interval [3,4]. d. Describe the economic meaning of this result. e. Calculate for which values of q the marginal cost does not exceed € 2500. Round the result to three decimals.
2. Consider a firm producing a single commodity. The total cost c(q) of producing the commodity, in 5q² units of € 1000, can be described by the equation c = +5. Here, q denotes the amount produced, 9+3 in units of 1000 pieces. a. Calculate the marginal cost at q = 3. b. Describe the economic meaning of this result. Be precise! c. Calculate on the interval [3,4]. d. Describe the economic meaning of this result. e. Calculate for which values of q the marginal cost does not exceed € 2500. Round the result to three decimals.
Calculus: Early Transcendentals
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ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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![2. Consider a firm producing a single commodity. The total cost c(q) of producing the commodity, in
5q²
units of € 1000, can be described by the equation c = +5. Here, q denotes the amount produced,
9+3
in units of 1000 pieces.
a. Calculate the marginal cost at q = 3.
b. Describe the economic meaning of this result. Be precise!
c. Calculate on the interval [3, 4].
d. Describe the economic meaning of this result.
e. Calculate for which values of q the marginal cost does not exceed € 2500. Round the result to
three decimals.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F43ce94b9-04a7-4c77-ad5b-77a60c328621%2F945f6e5f-5db8-4c4e-a633-4b3304b9b13e%2F9tgdwjr_processed.png&w=3840&q=75)
Transcribed Image Text:2. Consider a firm producing a single commodity. The total cost c(q) of producing the commodity, in
5q²
units of € 1000, can be described by the equation c = +5. Here, q denotes the amount produced,
9+3
in units of 1000 pieces.
a. Calculate the marginal cost at q = 3.
b. Describe the economic meaning of this result. Be precise!
c. Calculate on the interval [3, 4].
d. Describe the economic meaning of this result.
e. Calculate for which values of q the marginal cost does not exceed € 2500. Round the result to
three decimals.
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