The table shows the marginal cost for a company's product at various production levels. Marginal cost Marginal cost ($/unit) Units ($/unit) Units 3.25 7000 2.14 1000 2.86 8000 2.13 2000 2.79 9000 2.15 3000 2.74 10,000 2.19 4000 2.52 11,000 2.35 5000 2.46 12,000 2.67 6000 2.24 13,000 2.81 (a) Estimate the cost (not including fixed costs) to produce the first 12,000 units by considering batches of 2000 units. Use the initial marginal cost for each batch in your calculations. $4 (b) Use batches of 1000 units and the ending marginal cost for each batch to estimate the cost of raising the production level from 4000 to 11,000 units. $
The table shows the marginal cost for a company's product at various production levels. Marginal cost Marginal cost ($/unit) Units ($/unit) Units 3.25 7000 2.14 1000 2.86 8000 2.13 2000 2.79 9000 2.15 3000 2.74 10,000 2.19 4000 2.52 11,000 2.35 5000 2.46 12,000 2.67 6000 2.24 13,000 2.81 (a) Estimate the cost (not including fixed costs) to produce the first 12,000 units by considering batches of 2000 units. Use the initial marginal cost for each batch in your calculations. $4 (b) Use batches of 1000 units and the ending marginal cost for each batch to estimate the cost of raising the production level from 4000 to 11,000 units. $
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...
Related questions
Question
1
Can you help me with this
![The table shows the marginal cost for a company's product at various production levels.
Marginal cost
($/unit)
Marginal cost
($/unit)
Units
Units
3.25
7000
2.14
1000
2.86
8000
2.13
2000
2.79
9000
2.15
3000
2.74
10,000
2.19
4000
2.52
11,000
2.35
5000
2.46
12,000
2.67
6000
2.24
13,000
2.81
(a) Estimate the cost (not including fixed costs) to produce the first 12,000 units by considering batches of 2000
units. Use the initial marginal cost for each batch in your calculations.
$4
(b) Use batches of 1000 units and the ending marginal cost for each batch to estimate the cost of raising the
production level from 4000 to 11,000 units.
24](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F49eefac2-8578-47d1-a9fb-b16dd7aea845%2F5cacb004-337c-4cf1-8f6f-93c239e3ae45%2F6o4dx59_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The table shows the marginal cost for a company's product at various production levels.
Marginal cost
($/unit)
Marginal cost
($/unit)
Units
Units
3.25
7000
2.14
1000
2.86
8000
2.13
2000
2.79
9000
2.15
3000
2.74
10,000
2.19
4000
2.52
11,000
2.35
5000
2.46
12,000
2.67
6000
2.24
13,000
2.81
(a) Estimate the cost (not including fixed costs) to produce the first 12,000 units by considering batches of 2000
units. Use the initial marginal cost for each batch in your calculations.
$4
(b) Use batches of 1000 units and the ending marginal cost for each batch to estimate the cost of raising the
production level from 4000 to 11,000 units.
24
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![Calculus: Early Transcendentals](https://www.bartleby.com/isbn_cover_images/9781285741550/9781285741550_smallCoverImage.gif)
Calculus: Early Transcendentals
Calculus
ISBN:
9781285741550
Author:
James Stewart
Publisher:
Cengage Learning
![Thomas' Calculus (14th Edition)](https://www.bartleby.com/isbn_cover_images/9780134438986/9780134438986_smallCoverImage.gif)
Thomas' Calculus (14th Edition)
Calculus
ISBN:
9780134438986
Author:
Joel R. Hass, Christopher E. Heil, Maurice D. Weir
Publisher:
PEARSON
![Calculus: Early Transcendentals (3rd Edition)](https://www.bartleby.com/isbn_cover_images/9780134763644/9780134763644_smallCoverImage.gif)
Calculus: Early Transcendentals (3rd Edition)
Calculus
ISBN:
9780134763644
Author:
William L. Briggs, Lyle Cochran, Bernard Gillett, Eric Schulz
Publisher:
PEARSON
![Calculus: Early Transcendentals](https://www.bartleby.com/isbn_cover_images/9781285741550/9781285741550_smallCoverImage.gif)
Calculus: Early Transcendentals
Calculus
ISBN:
9781285741550
Author:
James Stewart
Publisher:
Cengage Learning
![Thomas' Calculus (14th Edition)](https://www.bartleby.com/isbn_cover_images/9780134438986/9780134438986_smallCoverImage.gif)
Thomas' Calculus (14th Edition)
Calculus
ISBN:
9780134438986
Author:
Joel R. Hass, Christopher E. Heil, Maurice D. Weir
Publisher:
PEARSON
![Calculus: Early Transcendentals (3rd Edition)](https://www.bartleby.com/isbn_cover_images/9780134763644/9780134763644_smallCoverImage.gif)
Calculus: Early Transcendentals (3rd Edition)
Calculus
ISBN:
9780134763644
Author:
William L. Briggs, Lyle Cochran, Bernard Gillett, Eric Schulz
Publisher:
PEARSON
![Calculus: Early Transcendentals](https://www.bartleby.com/isbn_cover_images/9781319050740/9781319050740_smallCoverImage.gif)
Calculus: Early Transcendentals
Calculus
ISBN:
9781319050740
Author:
Jon Rogawski, Colin Adams, Robert Franzosa
Publisher:
W. H. Freeman
![Precalculus](https://www.bartleby.com/isbn_cover_images/9780135189405/9780135189405_smallCoverImage.gif)
![Calculus: Early Transcendental Functions](https://www.bartleby.com/isbn_cover_images/9781337552516/9781337552516_smallCoverImage.gif)
Calculus: Early Transcendental Functions
Calculus
ISBN:
9781337552516
Author:
Ron Larson, Bruce H. Edwards
Publisher:
Cengage Learning