None The marginal cost of producing the next plumbus after a plumbuses have been producedis given by C'(x) = 2x37x. Assuming the fixed costs are ¥1400 what is the the total cost functionC(x)?

Answered: Image /qna-images/answer/2ca26b40-40fb-4c04-869d-6400d62624b1.jpg

Answered: The marginal cost of producing the next…

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter3: Benefits, Costs, And Decisions

Section: Chapter Questions

Problem 3.7IP

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Assume that it costs a company approximately C(x) = 400,000 + 160x + 0.003x² 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 $ (b) Find the average cost function C and the average cost to produce the first 10,000 smartphones. C(x) (10,000) = = per smartphone. The exact cost of producing the 10,001st smartphone is $ $ (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--- than the average cost from (b). This means that the average cost is ---Select--- Thus, there is a difference of $ at a production level of 10,000 smartphones.
1/3 1/3 Farmer Joe's production function is f(x1, x2) = ", where xị is the number of pounds of lemons he uses and x2 is the number of hours he spends 1/21/2 2wi"wy3/2, where y is the squeezing them. His cost function is c(w1. w2, y) = number of units of lemonade produced. (a) If lemons cost $1 per pound, the wage rate is $1 per hour, and the price of lemonade is p, what is his marginal cost function?
The total cost of producing 25 tons of butter is 45000. If the average variable cost is $775, then what is the firms average fixed cost?
If the fixed costs are USD 100 000 and the variable cost can be expressed as VC(Q)=5Q² NOK where Q is the quantity. What is the marginal cost of the quantity that produces the lowest average cost per unit?
A manufacturing plant has a short-run cost function of C(q) = 100q- 4q² +0.2q³+ 450. (a) What is the firm's short-run fixed cost and variable cost function?
Can you help me please Thank you for your time :)
A firm's production function can be written as:Q = 5LKwhere Q represents output per day. The unit costs of inputs are $150 for labor (L) and$1,000 for capital (K). Determine the least cost combination of L and K when output isproduced at the rate of 1,000 tons per day. Determine the required outlay for 1,000 tons perday.

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The marginal cost of producing the next plumbus after a plumbuses have been produced is given by C'(x) = 2x37x. Assuming the fixed costs are ¥1400 what is the the total cost function C(x)?