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Compute and interpret marginal cost Question Consider a cost function of the form C(x) 20, 000 980x x2 0 for 0x1, 000 for x 1,000 1, 000, economists have devised the formula In an attempt to calculate the marginal cost at x = 1 (c') limC'(x)) 2 MC(1, 000) lim x1,000- x->1,000+ Calculate MC(1, 000)

Compute and interpret marginal cost Question Consider a cost function of the form C(x) 20, 000 980x x2 0 for 0x1, 000 for x 1,000 1, 000, economists have devised the formula In an attempt to calculate the marginal cost at x = 1 (c') limC'(x)) 2 MC(1, 000) lim x1,000- x->1,000+ Calculate MC(1, 000)

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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Compute and interpret marginal cost Question Consider a cost function of the form C(x) 20, 000 980x x2 0 for 0x1, 000 for x 1,000 1, 000, economists have devised the formula In an attempt to calculate the marginal cost at x = 1 (c') limC'(x)) 2 MC(1, 000) lim x1,000- x->1,000+ Calculate MC(1, 000)
Transcribed Image Text:Compute and interpret marginal cost Question Consider a cost function of the form C(x) 20, 000 980x x2 0 for 0x1, 000 for x 1,000 1, 000, economists have devised the formula In an attempt to calculate the marginal cost at x = 1 (c') limC'(x)) 2 MC(1, 000) lim x1,000- x->1,000+ Calculate MC(1, 000)
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