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7. An analyst has found that Tom's Transmissions Company cost function is: C(x) = 40,000 + 500x – 0.55x? for, where x is the number of transmissions. a) Determine the marginal Cost function C'(x). b) Determine when the Cost function is maximized. c) Determine the marginal cost function at the 100th item produced and sold. Explain significance of the marginal cost at this point. d) Determine the cost difference between 101st and 100oth boat ( C(101) – C(100)). Is this value the same or different from the marginal cost from part c? Explain.

7. An analyst has found that Tom's Transmissions Company cost function is: C(x) = 40,000 + 500x – 0.55x? for, where x is the number of transmissions. a) Determine the marginal Cost function C'(x). b) Determine when the Cost function is maximized. c) Determine the marginal cost function at the 100th item produced and sold. Explain significance of the marginal cost at this point. d) Determine the cost difference between 101st and 100oth boat ( C(101) – C(100)). Is this value the same or different from the marginal cost from part c? Explain.

Calculus: Early Transcendentals
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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7. An analyst has found that Tom's Transmissions Company cost function is: C(x) = 40,000 + 500x – 0.55x² for, where x is the number of transmissions. a) Determine the marginal Cost function C'(x). b) Determine when the Cost function is maximized. c) Determine the marginal cost function at the 100th item proe Explain significance of the marginal cost at this point. ed and sold. d) Determine the cost difference between 101st and 100th boat ( C(101) - C(100)). Is this value the same or different from the marginal cost from part c? Explain.
Transcribed Image Text:7. An analyst has found that Tom's Transmissions Company cost function is: C(x) = 40,000 + 500x – 0.55x² for, where x is the number of transmissions. a) Determine the marginal Cost function C'(x). b) Determine when the Cost function is maximized. c) Determine the marginal cost function at the 100th item proe Explain significance of the marginal cost at this point. ed and sold. d) Determine the cost difference between 101st and 100th boat ( C(101) - C(100)). Is this value the same or different from the marginal cost from part c? Explain.
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