The total cost of producing the first q items is given by the formula C(q) = -2q^3 + 60q^2 + 1000 (For example, C(10) gives the cost of the first 10 items.) a.) Find the average cost of producing items 6 through 10 b.) Find the marginal cost when q = 8

The total cost of producing the first q items is given by the formula C(q) = -2q^3 + 60q^2 + 1000 (For example, C(10) gives the cost of the first 10 items.) a.) Find the average cost of producing items 6 through 10 b.) Find the marginal cost when q = 8

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter9: Applications Of Cost Theory

Section: Chapter Questions

Problem 3E

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Question

The total cost of producing the first q items is given by the formula C(q) = -2q^3 + 60q^2 + 1000

(For example, C(10) gives the cost of the first 10 items.)

a.) Find the average cost of producing items 6 through 10

b.) Find the marginal cost when q = 8

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