Suppose the cost function is: C(q) = 88.9q + 20000 After you construct your average cost function, A(q) , find the average cost per item units have been produced. Your answer should be consistent with the plot below. Answer = $ per item (Round to the nearest penny) %3D

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...
icon
Related questions
Question

help

Suppose the cost function is:
C(q) = 88.9q + 20000
After you construct your average cost function, A(q) , find the average cost per item when 98
units have been produced.
Your answer should be consistent with the plot below.
Answer
per item (Round to the nearest penny)
%3D
Average Cost, A(q)
600-
500
400
300
200
100
200
400
600
800
1000
1200
1400
-100-
Оuаntity (q)
$ (per item)
Transcribed Image Text:Suppose the cost function is: C(q) = 88.9q + 20000 After you construct your average cost function, A(q) , find the average cost per item when 98 units have been produced. Your answer should be consistent with the plot below. Answer per item (Round to the nearest penny) %3D Average Cost, A(q) 600- 500 400 300 200 100 200 400 600 800 1000 1200 1400 -100- Оuаntity (q) $ (per item)
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Recommended textbooks for you
Calculus: Early Transcendentals
Calculus: Early Transcendentals
Calculus
ISBN:
9781285741550
Author:
James Stewart
Publisher:
Cengage Learning
Thomas' Calculus (14th Edition)
Thomas' Calculus (14th Edition)
Calculus
ISBN:
9780134438986
Author:
Joel R. Hass, Christopher E. Heil, Maurice D. Weir
Publisher:
PEARSON
Calculus: Early Transcendentals (3rd Edition)
Calculus: Early Transcendentals (3rd Edition)
Calculus
ISBN:
9780134763644
Author:
William L. Briggs, Lyle Cochran, Bernard Gillett, Eric Schulz
Publisher:
PEARSON
Calculus: Early Transcendentals
Calculus: Early Transcendentals
Calculus
ISBN:
9781319050740
Author:
Jon Rogawski, Colin Adams, Robert Franzosa
Publisher:
W. H. Freeman
Precalculus
Precalculus
Calculus
ISBN:
9780135189405
Author:
Michael Sullivan
Publisher:
PEARSON
Calculus: Early Transcendental Functions
Calculus: Early Transcendental Functions
Calculus
ISBN:
9781337552516
Author:
Ron Larson, Bruce H. Edwards
Publisher:
Cengage Learning