The cost of producing $ x $ teddy bears per day at the Cuddly Companion Co. is calculated by their marketing staff to be given by the formula\[ C(x) = 100 + 37x - 0.07x^2. \](a) Find the marginal cost function $ C'(x) $.\[ C'(x) = \](b) How fast is the cost going up at a production level of 100 teddy bears?When they produce 100 teddy bears, the production costs are increasing at a rate of \[ \ \] dollars per teddy bear.In other words, the cost to produce the 101st teddy bear is approximately \[ \ \] dollars.(c) Find the average cost function $ \overline{C} $, and evaluate $ \overline{C}(100) $.\[ \overline{C}(x) = \]\[ \overline{C}(100) = \]So when they produce 100 teddy bears, the average cost per teddy bear is \[ \ \] dollars.(d) Fill in the blanks: Since the marginal cost is [less than/greater than] the average cost per unit, increasing production from 100 teddy bears will cause the average cost per unit to [increase/decrease].

The answer to the question are as follows :

"he cost of producing x teddy bears per day at the Cuddly Companion Co. is calculated by their marketing staff to be given by the formula C(x) = 100 + 37x - 0.07x². a) Find the marginal cost function C'(x). C'(x) = || b) How fast is the cost going up at a production level of 100 teddy bears? When they produce 100 teddy bears, the production costs are increasing at a rate of [ n other words, the cost to produce the 101st |× dollars per teddy bear ]× dollars v teddy bear is approximately | c) Find the average cost function 7, and evaluate č(100). C(x) = C(100) = |x so when they produce 100 teddy bears, the average cost per teddy bear is x dollars.

"he cost of producing x teddy bears per day at the Cuddly Companion Co. is calculated by their marketing staff to be given by the formula C(x) = 100 + 37x - 0.07x². a) Find the marginal cost function C'(x). C'(x) = || b) How fast is the cost going up at a production level of 100 teddy bears? When they produce 100 teddy bears, the production costs are increasing at a rate of [ n other words, the cost to produce the 101st |× dollars per teddy bear ]× dollars v teddy bear is approximately | c) Find the average cost function 7, and evaluate č(100). C(x) = C(100) = |x so when they produce 100 teddy bears, the average cost per teddy bear is x dollars.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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