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1. Dunder Mifflin has found that producing x cases of Premium Multiuse Copy Paper is given by C(x) = 60 + 10x - 0.5x2. a. Find C(15) and interpret your answer in a complete sentence. b. Find the marginal cost function. c. Find C'(15) and interpret your answer in a complete sentence.

1. Dunder Mifflin has found that producing x cases of Premium Multiuse Copy Paper is given by C(x) = 60 + 10x - 0.5x2. a. Find C(15) and interpret your answer in a complete sentence. b. Find the marginal cost function. c. Find C'(15) and interpret your answer in a complete sentence.

Calculus: Early Transcendentals
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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● ● ● The term marginal is used in business and economics to indicate a rate of change, and therefore, a derivative. Marginal Cost is the rate of change of the total cost per unit change in quantity x. For x = n, C'(n) gives an estimate for how much the n + 1 item will cost to produce. Marginal average cost C'(x) is the rate of change of the average cost per unit change in production. This is an approximation of the change in average cost per unit when one more item is produced. It is found by dividing the marginal cost function by x. 1. Dunder Mifflin has found that producing x cases of Premium Multiuse Copy Paper is given by C(x) = 60 + 10x -0.5x². a. Find C(15) and interpret your answer in a complete sentence. b. Find the marginal cost function. c. Find C'(15) and interpret your answer in a complete sentence. d. Find the marginal average cost function. e. Find the marginal average cost when x = 15 and interpret your answer in a complete sentence.
Transcribed Image Text:● ● ● The term marginal is used in business and economics to indicate a rate of change, and therefore, a derivative. Marginal Cost is the rate of change of the total cost per unit change in quantity x. For x = n, C'(n) gives an estimate for how much the n + 1 item will cost to produce. Marginal average cost C'(x) is the rate of change of the average cost per unit change in production. This is an approximation of the change in average cost per unit when one more item is produced. It is found by dividing the marginal cost function by x. 1. Dunder Mifflin has found that producing x cases of Premium Multiuse Copy Paper is given by C(x) = 60 + 10x -0.5x². a. Find C(15) and interpret your answer in a complete sentence. b. Find the marginal cost function. c. Find C'(15) and interpret your answer in a complete sentence. d. Find the marginal average cost function. e. Find the marginal average cost when x = 15 and interpret your answer in a complete sentence.
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