Question #6 - The monthly cost of producing "X" units in our factory is given by thefunction C(x) = .001x³ +.05x² +1000. The revenue generated from selling these units isgiven by the function R(x) = 20x-.5x². Currently there are 15 units produced monthly.A) Find the equation for Marginal CostB) Find the equation for Marginal Profit.C) What is the additional cost of raising the output to 16 units?

Given The cost function is C(x)=.001x3+.05x2+1000 The revenue function is R(x)=20x-.5x2 We…

Answered: Question #6 - The monthly cost of…

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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An individuals utility function is given by U = 900x₁ + 500x2 + 6x₁x2x²-x²2/2, when the weekly amount of leisure is X1 140 and earned income is ₂ = 800 answer the following: - 1. The marginal utility of ₁ is 2. The marginal utility of x2 is 3. Use the small increments formula to estimate the change in the utility when ₁ decreases by 1 and 2 increases by 4. The change = 4. Does the law of diminishing marginal utility hold? 5. The MRCS at a given values is Enter non-integer numerical values as decimals to at least 3 decimal places. Note: you must use a. and not, for a decimal point.
Assume that it costs a company approximately C(x) = 400,000 + 120x + 0.002x? dollars to manufacture x smartphones in an hour. (a) Find the marginal cost function. Use it to estimate how fast the cost is increasing when x = 10,000. per smartphone Compare this with the exact cost of producing the 10,001st smartphone. The cost is increasing at a rate of $ per smartphone. The exact cost of producing the 10,001st smartphone is $ Thus, there is a difference of $ (b) Find the average cost function C and the average cost to produce the first 10,000 smartphones. C(x) C(10,000) = $ (c) Using your answers to parts (a) and (b), determine whether the average cost is rising or falling at a production level of 10,000 smartphones. The marginal cost from (a) is ---Select--- O than the average cost from (b). This means that the average cost is ---Select--- O at a production level of 10,000 smartphones.
A company determines that the marginal profit resulting from the sale of x units, in tens of dollars, is given by P'(x) = 3√x - 10 Find the total profit when 144 units are sold. Round to the nearest whole number. Enter numeric values without units and symbols. For example: If the answer -$1,200, enter -1200 as your answers. If the answer $1,200, enter 1200 as your answers.
The marginal profit for selling à Bronco souvenir hats is modeled by P'(x) = 7 -0.02x dollars. Suppose your fixed costs are $ 490. First find the number of hats you would like to sell in order to maximize your profit: (This requires remembering some concepts about optimization from Math 30.) Now compute the profit for selling that many units, according to the model.

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