The graph of a cost function is shown below, where C(g) is the total production cost, in dollars, to make q units. a. Suppose 2 units are produced. What is the total cost? AC(q) total production cost of qunits 220 200- 180- 160 140- 120- 100 80- 60어 40어 20어 What is the average cost when 2 units are produced? $ per unit b. Suppose 5 units are produced. What is the total cost? What is the average cost when 5 units are produced? $ per unit c. Use the graph of C(q) to visually determine at approximately what value of q is average cost minimized. 0- 4 units 9. number of units Approximate the total cost to produce this number of units. Approximate the average cost to produce this number of units. per unit What is the marginal cost at this production level? $1 per unit

The graph of a cost function is shown below, where C(g) is the total production cost, in dollars, to make q units. a. Suppose 2 units are produced. What is the total cost? AC(q) total production cost of qunits 220 200- 180- 160 140- 120- 100 80- 60어 40어 20어 What is the average cost when 2 units are produced? $ per unit b. Suppose 5 units are produced. What is the total cost? What is the average cost when 5 units are produced? $ per unit c. Use the graph of C(q) to visually determine at approximately what value of q is average cost minimized. 0- 4 units 9. number of units Approximate the total cost to produce this number of units. Approximate the average cost to produce this number of units. per unit What is the marginal cost at this production level? $1 per unit

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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Concept explainers

Differential Equations

Have you ever observed the movement of the satellites and rockets or how the planets go around the sun in their orbits? How will you determine their motion? Definitely they follow some scientific laws and these kinds of problems are framed as differential equations.

Question

The graph of a cost function is shown below,
where C(g) is the total production cost, in dollars, to make g units.
a. Suppose 2 units are produced. What is the total cost?
AC(q) total production cost of q units
220-
What is the average cost when 2 units are produced?
200-
$ per unit
180-
160
140-
120-
100
80-
60어
40어
20어
b. Suppose 5 units are produced. What is the total cost?
What is the average cost when 5 units are produced?
$ per unit
c. Use the graph of C(q) to visually determine at approximately what value of q is average
cost minimized.
0-
4
units
q. number of units
Approximate the total cost to produce this number of units.
Approximate the average cost to produce this number of units.
per unit
What is the marginal cost at this production level?
$
per unit

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