Identify the best choice of hour.

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Chapter 3, Problem 4P

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Identify the best choice of hour.

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The cost, in thousands of dollars, of airing x television commercials during a sports event is given by C(x) = 150 + 2,600x – 0.06x2. (a) Find the marginal cost function C'(x). C'(x) = (b) Use the marginal cost to approximate the cost to air the 5th commercial. Convert your answer to dollars. The cost to air the 5th commercial is approximately X dollars. (c) What is the exact cost to air the 5th commercial? Convert your answer to dollars. The exact cost to air the 5th commercial is x dollars.

Suppose that the total cost (in dollars) for a product is given by C(x)=1300+ 160 In(2x + 1) where x is the number of units produced. (a) Find the marginal cost MC function. MC = (b) Find the marginal cost when 160 units are produced. (Round your answer to the nearest cent.) $ Interpret your result. The profit from the next unit will be approximately this amount. This is the total cost of producing 160 units. ◇ This is the total profit from producing 160 units. ○ It will cost approximately this amount to make the next unit. (c) Total cost functions always increase because producing more items costs more. What then must be true of the marginal cost function? ○ MC ≥ 0 ○ MC > 0 ○ MC ≤ 0 ○ MC = 0 ○ MC <0 Does it apply in this problem? ○ Yes Ο ΝΟ

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