QUESTION 3(b)i.ii.Suppose the marginal cost function for a manufacturer's product is given by0.005 where c is the total cost in RM when q units are produced.dc=4e°dqDetermine the marginal cost when 500 units are produced.If fixed costs are RM 2000, find the total cost of producing 50 units.]

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Answered: i. ION 3(b) Suppose the marginal cost…

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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Suppose that x represents the number of units that are produced and sold for a product. Suppose that the revenue for the sale of x units is given by R(x)= 23x. Suppose that the cost to produce x units is given by C(x) = 50 + 15x + 1/20x^2 a. Compute the total profit function and the per-unit average cost function. b. Compute the marginal profit at a production level of x=150 units. Interpret this information. c. Compute the marginal cost at a production level of x = 100 units. Interpret this information
Answer no. 2
You have been placed in charge of minimizing costs on a production line. The cost model is C=100x-12^2+3x^3. The variable x represents the level of production for the given cost. Determine the production level that minimizes the average cost. A.) Find the marginal cost. (Divide by x and take 1st derivative) B.) What is the production level?
6 Assume an hypothetical consumer faced by the following utility function; U=X^2Y ( squared times y). After a bad harvest and thus bad economic conditions, the price of good X increases from Ksh.4.2 to Ksh. 4.8, while the price of good Y which was ksh. 4 increased to ksh.5. The income of the consumer was ksh. 30 before and after the good harvest. Calculate the CV and EV.

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i. ION 3(b) Suppose the marginal cost function for a manufacturer's product is given by de =4e0.005 where c is the total cost in RM when q units are produced. dq Determine the marginal cost when 500 units are produced. If fixed costs are RM 2000, find the total cost of producing 50 units. ]