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You produce fountain pens. Let MC(q) represent the marginal cost for producing the qth pen. Furthermore, let q(t) represent the total number of pens you've produced by the th day in January. 30 MC(q(t))d (t) dt = 400 20 How would you interpret this equation? Please select all correct interpretations below.

You produce fountain pens. Let MC(q) represent the marginal cost for producing the qth pen. Furthermore, let q(t) represent the total number of pens you've produced by the th day in January. 30 MC(q(t))d (t) dt = 400 20 How would you interpret this equation? Please select all correct interpretations below.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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You produce fountain pens. Let MC(q) represent the marginal cost for producing the qth pen. Furthermore, let q(t) represent the total number of pens you've produced by the th day in January. 30 | MC(q(t))d (t) dt = 400 20 How would you interpret this equation? Please select all correct interpretations below. O If you are already producing 20 fountain pens, you will spend an additional $400 to produce the next 10 pens. If you are already producing 20 fountain pens, then you will spend an additional $400 on producing fountain pens over the next 10 days. If today is January 20th, you will spend an additional $400 to produce the next 10 pens. If today is January 20th, then you will spend an additional $400 on producing fountain pens over the next 10 days.
Transcribed Image Text:You produce fountain pens. Let MC(q) represent the marginal cost for producing the qth pen. Furthermore, let q(t) represent the total number of pens you've produced by the th day in January. 30 | MC(q(t))d (t) dt = 400 20 How would you interpret this equation? Please select all correct interpretations below. O If you are already producing 20 fountain pens, you will spend an additional $400 to produce the next 10 pens. If you are already producing 20 fountain pens, then you will spend an additional $400 on producing fountain pens over the next 10 days. If today is January 20th, you will spend an additional $400 to produce the next 10 pens. If today is January 20th, then you will spend an additional $400 on producing fountain pens over the next 10 days.
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