5. The total cost of production, in thousands of dollars, is C(q) = q³ – 6q? + 15q, where q isthe demand in thousands and 0 < q < 5.a. Find the average cost when the demand is 2000.b. Determine the exact value of q at which average cost is minimized.c. Determine the marginal cost to make 3000 items. Show your work.

Answered: Image /qna-images/answer/ceba0190-774e-43dc-8031-701150e7d0cb.jpg

Answered: 5. The total cost of production, in…

Calculus: Early Transcendentals

8th Edition

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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de 2g + q +e, where c is in dq The marginal cost function for a manufacturer's product is given by rials, Find the cost function if fixed costs are 100 Rial.
7) The profit (in dollars) derived from selling z units of an alarm clock is given by P= 0.0002z" + 10z a. Find the marginal profit for a production level of 100 units. b. Compare the marginal profit with the actual gain in profit obtained by increasing the production level from 100 to 101 units.
-; A price p (in dollars) and demand x for a product are related by 2x? – 12xp+ 50p? = 6400. - If the price is increasing at a rate of 2 dollars per month when the price is 10 dollars, find the rate of change of the demand. Rate of change of demand =
Describe what fixed costs and marginal costs mean to a company. Choose the correct answer below. A. Fixed cost is the rate of change of cost C(x) at the level of production x and is equal to the slope of the cost function at x. Marginal cost is the constant for a particular product and does not change as more items are made. O B. The number of units at which revenue just equals cost is the fixed cost. Marginal cost is the constant for a particular product and does not change as more items are made. O C. Fixed cost is the constant for a particular product and does not change as more items are made. Marginal cost is the rate of change of cost C(x) at the level of production x and is equal to the slope of the cost function at x. OD. Fixed cost is the constant for a particular product and does not change as more items are made. The number of units at which revenue just equals cost is the marginal cost.
a. If the supply of a commodity is given by p = 35 + 4 ln (2q + 1), where p is the unit price and q is the number of units supplied. Determine how many units will be supplied at a unit price of $54.80? b. If the demand function for a commodity is p = 700/ ln (q + 1), where p is the unit price and q is the number of units demanded. Determine how many units will be demanded at a unit price of $159.29? c. If you give your god child a gift $3000 towards a university education. How much will the $3000 be worth in 17 years if it was invested by the child’s mother at 10% compounded continuously?

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