4x - 3 The total cost (in hundreds of dollars) to produce x units of perfume is C(x)= 7x + 9 (a) Find the average cost function. (b) Find the marginal average cost function. (c) Find the average cost and the marginal average cost for a production level of 50 units. Interpret your results.
4x - 3 The total cost (in hundreds of dollars) to produce x units of perfume is C(x)= 7x + 9 (a) Find the average cost function. (b) Find the marginal average cost function. (c) Find the average cost and the marginal average cost for a production level of 50 units. Interpret your results.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
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Transcribed Image Text:The total cost (in hundreds of dollars) to produce \( x \) units of perfume is \( C(x) = \frac{4x - 3}{7x + 9} \).
**(a)** Find the average cost function.
**(b)** Find the marginal average cost function.
**(c)** Find the average cost and the marginal average cost for a production level of 50 units. Interpret your results.
Expert Solution
Step 1
Introduction:
The average cost is calculated as the sum of all product costs divided by the total number of goods. The word "average" is also used in math. The term "means of data" refers to the average of any given set of data. The average, however, is thought to be the appropriate term in corporate contexts where profit and loss are crucial elements.
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