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derivative C" (*). Use this function in the model below for the Marginal Cost function MC (x). Problem Set question: The cost, in dollars, of producing a units of a certain item is given by (a) Find the marginal cost function. ab b √a |a| π sin (a) C(x)=0.0323 10x + 200. E ?

derivative C" (*). Use this function in the model below for the Marginal Cost function MC (x). Problem Set question: The cost, in dollars, of producing a units of a certain item is given by (a) Find the marginal cost function. ab b √a |a| π sin (a) C(x)=0.0323 10x + 200. E ?

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Introduction to Calculus in Economics (continued): In the previous Problem Set question, we started looking at the cost function C (x), the cost of a firm producing a items. An important microeconomics concept is the marginal cost, defined in (non-mathematical introductory) economics as the cost of producing one additional item. If the current production level is a items with cost C (x), then the cost of computing h additionial items is C (x + h). The average cost of those h items is (C(x+h)-C(x)) .As we analyze the cost of just the last item produced, this can be made into a mathematical model by taking the limit as h→0, i.e. the derivative C¹ (x). Use this function in the model below for the Marginal Cost function MC (x). h Problem Set question: The cost, in dollars, of producing a units of a certain item is given by (a) Find the marginal cost function. MC (x) b a a b va a π sin (a) C'(x) = 0.03x³ - 10x + 200. III
Transcribed Image Text:Introduction to Calculus in Economics (continued): In the previous Problem Set question, we started looking at the cost function C (x), the cost of a firm producing a items. An important microeconomics concept is the marginal cost, defined in (non-mathematical introductory) economics as the cost of producing one additional item. If the current production level is a items with cost C (x), then the cost of computing h additionial items is C (x + h). The average cost of those h items is (C(x+h)-C(x)) .As we analyze the cost of just the last item produced, this can be made into a mathematical model by taking the limit as h→0, i.e. the derivative C¹ (x). Use this function in the model below for the Marginal Cost function MC (x). h Problem Set question: The cost, in dollars, of producing a units of a certain item is given by (a) Find the marginal cost function. MC (x) b a a b va a π sin (a) C'(x) = 0.03x³ - 10x + 200. III
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