If C(x) is the cost of producing x units of a commodity, then the average cost per unit is c(x) = C(x). Consider the cost function C(x) given below. (Round your answers to the nearest cent.) X C(x) = 81,000+ 100x + 6x³/2 (a) Find the total cost (in dollars) at a production level of 1,000 units. $ (b) Find the average cost (in dollars per unit) at a production level of 1,000 units. per unit (c) Find the marginal cost (in dollars per unit) at a production level of 1,000 units. $ per unit (d) Find the production level (in units) that will minimize the average cost. units (e) What is the minimum average cost (in dollars per unit)? $ per unit

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter3: Functions
Section3.2: Domain And Range
Problem 61SE: The cost in dollars of making x items is given by the function Cx)=10x+500. a. The fixed cost is...
icon
Related questions
Question
If C(x) is the cost of producing x units of a commodity, then the average cost per unit is c(x)
C(x) = 81,000 + 100x + 6x³/2
(a) Find the total cost (in dollars) at a production level of 1,000 units.
$
(b) Find the average cost (in dollars per unit) at a production level of 1,000 units.
$
per unit
(c) Find the marginal cost (in dollars per unit) at a production level of 1,000 units.
$
per unit
(d) Find the production level (in units) that will minimize the average cost.
units
(e) What is the minimum average cost (in dollars per unit)?
$
per unit
C(x)
X
Consider the cost function C(x) given below. (Round your answers to the nearest cent.)
Transcribed Image Text:If C(x) is the cost of producing x units of a commodity, then the average cost per unit is c(x) C(x) = 81,000 + 100x + 6x³/2 (a) Find the total cost (in dollars) at a production level of 1,000 units. $ (b) Find the average cost (in dollars per unit) at a production level of 1,000 units. $ per unit (c) Find the marginal cost (in dollars per unit) at a production level of 1,000 units. $ per unit (d) Find the production level (in units) that will minimize the average cost. units (e) What is the minimum average cost (in dollars per unit)? $ per unit C(x) X Consider the cost function C(x) given below. (Round your answers to the nearest cent.)
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 5 steps with 5 images

Blurred answer
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question

question d and e are noy correct.

Solution
Bartleby Expert
SEE SOLUTION
Recommended textbooks for you
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax
Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt
College Algebra
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Algebra and Trigonometry (MindTap Course List)
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning