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K Suppose that the monthly cost, in dollars, of producing x chairs is C(x)=0.002x³ +0.07x+18x+500, and currently 90 chairs are produced monthly. a)What is the current monthly cost? b)What is the marginal cost when x=907 c) Use the result from part (b) to estimate the monthly cost of increasing production to 92 chairs per month. d)What would be the actual additional monthly cost of increasing production to 92 chairs monthly? a) The current monthly cost is $ (Round to the nearest cent as needed.)

K Suppose that the monthly cost, in dollars, of producing x chairs is C(x)=0.002x³ +0.07x+18x+500, and currently 90 chairs are produced monthly. a)What is the current monthly cost? b)What is the marginal cost when x=907 c) Use the result from part (b) to estimate the monthly cost of increasing production to 92 chairs per month. d)What would be the actual additional monthly cost of increasing production to 92 chairs monthly? a) The current monthly cost is $ (Round to the nearest cent as needed.)

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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K Suppose that the monthly cost, in dollars, of producing x chairs is C(x) = 0.002x² +0.07x² + 18x+600, and currently 90 chairs are produced monthly a)What is the current monthly cost? b)What is the marginal cost when x = 90? c)Use the result from part (b) to estimate the monthly cost of increasing production to 92 chairs per month. d)What would be the actual additional monthly cost of increasing production to 92 chairs monthly? a) The current monthly cost is $ (Round to the nearest cent as needed.) KO
Transcribed Image Text:K Suppose that the monthly cost, in dollars, of producing x chairs is C(x) = 0.002x² +0.07x² + 18x+600, and currently 90 chairs are produced monthly a)What is the current monthly cost? b)What is the marginal cost when x = 90? c)Use the result from part (b) to estimate the monthly cost of increasing production to 92 chairs per month. d)What would be the actual additional monthly cost of increasing production to 92 chairs monthly? a) The current monthly cost is $ (Round to the nearest cent as needed.) KO
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