evious Problem Set question, we started looking at the cost function C (z), the cost of a firm producing z items. An important microeconomics is the marginal cost, defined in (non-mathematical introductory) economics as the cost of producing one additional item. rrent production level is z items with cost C (z), then the cost of computing h additional items is C (z+h). The average cost of those h items is -h)-C(z)) 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 we C' (2). Use this function in the model below for the Marginal Cost function MC(z). h m Set question: st, in dollars, of producing z units of a certain item is given by the marginal cost function. C(z)=0.0473 -10z+450.
evious Problem Set question, we started looking at the cost function C (z), the cost of a firm producing z items. An important microeconomics is the marginal cost, defined in (non-mathematical introductory) economics as the cost of producing one additional item. rrent production level is z items with cost C (z), then the cost of computing h additional items is C (z+h). The average cost of those h items is -h)-C(z)) 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 we C' (2). Use this function in the model below for the Marginal Cost function MC(z). h m Set question: st, in dollars, of producing z units of a certain item is given by the marginal cost function. C(z)=0.0473 -10z+450.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
Related questions
Question
Please help I am not getting this. Thank you.
![MC (2)=
Fo
a
b
Va
0.16x² - 10
a
k
sin (a)
(b) Find the marginal cost when 30 units of the item are produced.
The marginal cost when 30 units are produced is $134)
(c) Find the actual cost of increasing production from 30 units to 31 units.
X
The actual cost of increasing production from 30 units to 31 units is $ 300
E
>](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5688e886-d1a1-41d0-9033-93b930693201%2F84f38472-e1d7-416e-bc79-6c4eb906d197%2Fa08btbd_processed.jpeg&w=3840&q=75)
Transcribed Image Text:MC (2)=
Fo
a
b
Va
0.16x² - 10
a
k
sin (a)
(b) Find the marginal cost when 30 units of the item are produced.
The marginal cost when 30 units are produced is $134)
(c) Find the actual cost of increasing production from 30 units to 31 units.
X
The actual cost of increasing production from 30 units to 31 units is $ 300
E
>
![In the previous Problem Set question, we started looking at the cost function C (z), the cost of a firm producing z 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 z items with cost C (2), then the cost of computing h additionial items is C (z + h). The average cost of those h items is
(C(z+h)-C(z))
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 C' (z). Use this function in the model below for the Marginal Cost function MC (2).
h
Problem Set question:
The cost, in dollars, of producing z units of a certain item is given by
(a) Find the marginal cost function.
b
a
b
Va
2
0.16 x 10
a
T
sin (a)
C(z)=0.0473
10z + 450.
Submit Assignment](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5688e886-d1a1-41d0-9033-93b930693201%2F84f38472-e1d7-416e-bc79-6c4eb906d197%2F9gn8jvf_processed.jpeg&w=3840&q=75)
Transcribed Image Text:In the previous Problem Set question, we started looking at the cost function C (z), the cost of a firm producing z 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 z items with cost C (2), then the cost of computing h additionial items is C (z + h). The average cost of those h items is
(C(z+h)-C(z))
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 C' (z). Use this function in the model below for the Marginal Cost function MC (2).
h
Problem Set question:
The cost, in dollars, of producing z units of a certain item is given by
(a) Find the marginal cost function.
b
a
b
Va
2
0.16 x 10
a
T
sin (a)
C(z)=0.0473
10z + 450.
Submit Assignment
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