Over the interval shown above, the associated marginal cost is...O Increasing, then decreasingdecreasing, then increasingO Always increasingAlways decreasingO Constant over the intervalQuestion 11Continuing with the previous question, at which x-value below would the marginal cost be least in value?O 50O 100O 150O 200 A certain cost function has the following graph:8,0006,0004,0002,0000.50100150200ItemsDollars

Answered: Over the interval shown above, the…

Calculus: Early Transcendentals

8th Edition

ISBN:9781285741550

Author:James Stewart

Publisher:James Stewart

Chapter1: Functions And Models

Section: Chapter Questions

Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...

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Company A xx 0 5 10 50 100 200 CC 60 61.25 62.5 72.5 85 110 Company B xx 0 100 150 175 190 200 FF 65 75 80 82.5 84 85 c) Which company pays higher fixed costs for rent and labor? A. Company A B. Company B d) Which graph will be steeper, the graph corresponding to Company A's cost C(x) , or the graph corresponding to Company B's cost F(x) A. Company A B. Company B
Suppose that a company's marginal costs for producing mountain bikes is given by the table below Number of Bikes 10 20 30 Marginal Cost 821 630 584 516 You may assume that the marginal cost is decreasing everywhere and that the fixed cost is $5000. Find a lower estimate for the total cost of producing 30 bikes O $17,300 O $20,350 O $22,300 O $25,350 O $30,510 O none of the above
Q. 1. Use production function q(L, K) = L3 K and derive the followings: (a) (b) (c) (d) Short-run and long-run profit functions Short-run and long-run cost functions Short-run and long-run supply function using Hotelling's lemma. Short-run and long-run supply function using Shephard's lemma.
Introduction to Calculus in Economics (continued): In the previous Problem Set question, we started looking at the cost function C (x), the cost of a firm producing a items. An important microeconomics concept is the marginal cost, defined in (non-mathematical introductory) economics as the cost of producing one additional item. If the current production level is z items with cost C (x), then the cost of computing h additionial items is C (x + h). The average cost of those h items is (C(x+h)-C(x)) As we analyze the cost of just the last item produced, this can be made into a mathematical model by taking the limit as h → 0, i.e. the derivative C' (x). Use this function in the model below for the Marginal Cost function MC (x). Problem Set question: The cost, in dollars, of producing x units of a certain item is given by C (x) = 0.04x3 – 15x + 450. (a) Find the marginal cost function. MC (x) = (b) Find the marginal cost when 60 units of the item are produced. The marginal cost when 60…

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Over the interval shown above, the associated marginal cost is... O Increasing, then decreasing O decreasing, then increasing O Always increasing O Always decreasing O Constant over the interval