Suppose that the monthly cost, in dollars, of producing x chairs is C(x)=0.005x3+0.07x2+18x+700, and currently 50 chairs are produced monthly. a) What is the current monthly cost? b) What is the marginal cost when x=50? c) Use the result from part (b) to estimate the monthly cost of increasing production to 52 chairs per month. d) What would be the actual additional monthly cost of increasing production to 52 chairs monthly?
Suppose that the monthly cost, in dollars, of producing x chairs is C(x)=0.005x3+0.07x2+18x+700, and currently 50 chairs are produced monthly. a) What is the current monthly cost? b) What is the marginal cost when x=50? c) Use the result from part (b) to estimate the monthly cost of increasing production to 52 chairs per month. d) What would be the actual additional monthly cost of increasing production to 52 chairs monthly?
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
Related questions
Question
Suppose that the monthly cost, in dollars, of producing x chairs is
C(x)=0.005x3+0.07x2+18x+700, and currently 50 chairs are produced monthly.
a)
|
What is the current monthly cost?
|
b)
|
What is the marginal cost when
x=50?
|
c)
|
Use the result from part (b) to estimate the monthly cost of increasing production to
52 chairs per month.
|
d)
|
What would be the actual additional monthly cost of increasing production to
52 chairs monthly?
|
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