In an extensive study of cost functions for 40 firms in Great Britain, it was found that if x is the output (in millions of units) and y is the total cost (in thousands of pounds of sterling), then the cost function is similar to the following: C(x) = -0.02x² + 2.43x + 13.15 Compute the marginal costs when x = 56 million units have been produced. The marginal costs at 56 million units is C'(56)= The proper units are: (Enter a number only, including a negative sign, if appropriate.) O Units per sterling O Millions of units per thousands of pounds of sterling O Sterling per unit O Thousands of pounds of sterling per million units
In an extensive study of cost functions for 40 firms in Great Britain, it was found that if x is the output (in millions of units) and y is the total cost (in thousands of pounds of sterling), then the cost function is similar to the following: C(x) = -0.02x² + 2.43x + 13.15 Compute the marginal costs when x = 56 million units have been produced. The marginal costs at 56 million units is C'(56)= The proper units are: (Enter a number only, including a negative sign, if appropriate.) O Units per sterling O Millions of units per thousands of pounds of sterling O Sterling per unit O Thousands of pounds of sterling per million units
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter4: Polynomial And Rational Functions
Section4.1: Quadratic Functions
Problem 6SC: A company that makes and sells baseball caps has found that the total monthly cost C in dollars of...
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Transcribed Image Text:In an extensive study of cost functions for 40 firms in Great Britain, it was found that if x is the output (in
millions of units) and y is the total cost (in thousands of pounds of sterling), then the cost function is
similar to the following:
C(x) = -0.02x² +2.43x + 13.15
Compute the marginal costs when x = 56 million units have been produced.
The marginal costs at 56 million units is
C'(56) =
The proper units are:
(Enter a number only, including a negative sign, if appropriate.)
O Units per sterling
O Millions of units per thousands of pounds of sterling
O Sterling per unit
O Thousands of pounds of sterling per million units
Remember that C'(56) predicts the cost of item 57.
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