Assume that it costs a company approximatelyC(x) = 400,000 + 140x + 0.003x?dollars to manufacture x smartphones in an hour.(a) Find the marginal cost function.400,000 – 0.000009Use it to estimate how fast the cost is increasing when x = 10,000.2$per smartphoneCompare this with the exact cost of producing the 10,001st smartphone.The cost is increasing at a rate of $per smartphone. The exact cost of producing the 10,001st smartphone is $Thus, there is a difference of$(b) Find the average cost function C and the average cost to produce the first 10,000 smartphones.C(x) =C(10,000) = $(c) Using your answers to parts (a) and (b), determine whether the average cost is rising or falling at a production level of 10,000 smartphones.-Select--- at a production level of 10,000 smartphones.The marginal cost from (a) is --Select--- than the average cost from (b). This means that the average cost is

The total cost function of the firm is C(x) = 400,000 + 140x + 0.003x^2 where x = production of…

Answered: Assume that it costs a company…

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter4: Extent (how Much) Decisions

Section: Chapter Questions

Problem 3MC

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Assume that it costs a company approximately C(x) = 400,000 + 160x + 0.002x2 dollars to manufacture x smartphones in an hour. (a) Find the marginal cost function. Use it to estimate how fast the cost is increasing when x = 10,000. $ per smartphone Compare this with the exact cost of producing the 10,001st smartphone. The cost is increasing at a rate of $ per smartphone. The exact cost of producing the 10,001st smartphone is $ Thus, there is a difference of $ (b) Find the average cost function C and the average cost to produce the first 10,000 smartphones. C(x) = C(10,000) = $ (c) Using your answers to parts (a) and (b), determine whether the average cost is rising or falling at a production level of 10,000 smartphones. The marginal cost from (a) is --Select--- v than the average cost from (b). This means that the average cost is ---Select--- v at a production level of 10,000 smartphones. Need Help? Watch It
ATC, AAC, AVC, MC (/uni 270.00 24000 21000 180.00 150.00 120.00 10:00 60.00 30.00 0:00 02 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 Units of Output (0) Unit Cost Curves Refer to the graph above. The curves are not labeled. To help get this question right, you must first label the curves. An output level of 18 is identified with the dark vertical line. The shaded rectangular area (height times width) is the O average sunk cost. O total sunk cost O total avoidable fed cost. O total avoidable cost. O None of the above
The total cost (in hundreds of dollars) of producing x calculators per day is given by the equation. 20- 15- 10- C(x) = 6 + /2x + 32 Osx< 50 Perform the following calculations and interpret the results. 10 20 30 40 50 Production C'(x) =U %D Cost (hundred dollars)
Assume that it costs a company approximately C(x) = 400,000 + 180x + 0.001x² dollars to manufacture x smartphones in an hour. (a) Find the marginal cost function. Use it to estimate how fast the cost is increasing when x = 10,000. $ per smartphone Compare this with the exact cost of producing the 10,001st smartphone. The cost is increasing at a rate of $ per smartphone. The exact cost of producing the 10,001st smartphone is $ Thus, there is a difference of $ (b) Find the average cost function C and the average cost to produce the first 10,000 smartphones. C(x) C(10,000) $ (c) Using your answers to parts (a) and (b), determine whether the average cost is rising or falling at a production level of 10,000 smartphones. The marginal cost from (a) is ---Select--- O than the average cost from (b). This means that the average cost is ---Select--- O at a production level of 10,000 smartphones.
It costs a baker a fixed cost of $420 and variable cost of $2.10 per cupcake. A cupcake issold for $4.90 each.(i) Make a table showing the total cost and the revenue obtained from producing 20,40,60,80 and 100 cupcakes.(ii) Write algebraic expressions representing the cost C and the revenue R as functions of the number of cupcakes X produced and number of cupcakes X sold respectively.(iii) Graph both functions on the same coordinate axes and from your graph determine the cordinate at which cost equals revenue.
E-commerce has had an explosive growth in the last year due to the pandemic. Many different retail companies with home delivery have had a significant increase in sales. Imagine such a company with home delivery by trucks. Each truck costs NOK 600 per hour including all costs. The average distance per trip is 40 KM and they deliver approximately 60 packages per trip. a. Calculate the cost per delivery. Make your own assumptions for the parameters that affect the time of the processes, like speed, loading time and unloading time. What would be their price per delivery, if they want a profit of 5%? b. Discuss the risk for the transport provider in your price calculation.
II. Find The Minimum Cost and graph : 1. C = x2 - 16x + 74 2. C = x2 - 40x + 405 Thank you.
What is the total cost of producing 200 units 125 150 180 210
Cost Analysis A company manufactures fuel tanks for cars. The total weekly cost (in dollars) of producing X fuel tanks is given by.. C(x) = 10000 +90x - 0.05x² %3D Find the exact cost of producing the 501st item. (Round to the nearest 2 decimal places, if needed) HINT: Steps to fiınd actual or exact (cost/revenue/profit) 1. Find the cost of x = 5003B 2. Then find the cost of x = 501%3; 3. Then subtract ASUS 3 近
It costs a company $58 to produce 6 units of a product and $78 to produce 10 units. Assuming that the cost is linear, how much does it cost to produce 25 units?
The total cost (in dollars) of producing x food processors is C(x) = 1600 + 40x-0.1x². (A) Find the exact cost of producing the 61st food processor. (B) Use the marginal cost to approximate the cost of producing the 61st food processor. CHEO (A) The exact cost of producing the 61st food processor is $ (B) Using the marginal cost, the approximate cost of producing the 61st food processor is $
The at a given production level x approximates the cost of producing the (x + 1)st or next item. screenshot attached

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