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
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Chapter2: Second-order Linear Odes
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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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