33. If the average fuel cost is $1.35 per gallon, then the annual fuel cost of driving a car 15,000 mi/yr is ap- proximately C = 20,250 X

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
icon
Related questions
Question
Can you please help me answer this number 33 question? Thank you so much
33. If the average fuel cost is $1.35 per gallon, then the
annual fuel cost of driving a car 15,000 mi/yr is ap-
proximately
C =
X
20,250
where x is the number of miles per gallon.
(a) Complete the following table and use it to sketch
the graph of the cost function:
с
X
10
15 20
25
30 35 40
Transcribed Image Text:33. If the average fuel cost is $1.35 per gallon, then the annual fuel cost of driving a car 15,000 mi/yr is ap- proximately C = X 20,250 where x is the number of miles per gallon. (a) Complete the following table and use it to sketch the graph of the cost function: с X 10 15 20 25 30 35 40
(b) Complete the following table for the marginal
cost:
X
dC
dx
10 15 20 25 30 35 40
(c) Find the change in annual fuel cost when x in-
creases from 10 to 11 and compare this with the
marginal cost when x = 10.
(d) Find the change in annual fuel cost when x in-
creases from 30 to 31 and compare this with the
marginal cost when x = 30.
Transcribed Image Text:(b) Complete the following table for the marginal cost: X dC dx 10 15 20 25 30 35 40 (c) Find the change in annual fuel cost when x in- creases from 10 to 11 and compare this with the marginal cost when x = 10. (d) Find the change in annual fuel cost when x in- creases from 30 to 31 and compare this with the marginal cost when x = 30.
Expert Solution
steps

Step by step

Solved in 3 steps with 8 images

Blurred answer
Knowledge Booster
Sales
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education