Question

Consider the following cost function. a. Find the average cost and marginal cost functions. b. Determine the average and marginal cost when x = a. c. Interpret the values obtained in part (b). C(x) = 0.05x^3 + 0.6x^2 + 60x + 110, 0 ? x ? 1500, a = 400 a. The average cost function is C?(x) = ? ?. The marginal cost is function is C'(x) = ? ?. b. The average cost when x = a is $ ? ?. (Round to two decimal places as needed.) The marginal cost when x = a is $ ? ?. (Round to two decimal places as needed.) c. Choose the correct interpretation of the average cost when x = a. A. The cost of producing the 401st item is about $1,854.00. B. The average cost per item is about $8,300.28 when 400 items are produced. C. The cost of producing 400 items is about $7,000.28. D. The cost of producing the 401st item is about $24,540.00. Choose the correct interpretation of the marginal cost when x = a. A. The cost of producing the 401st item is about $24,540.00. B. The cost of producing 401 items is about $654.00. C. The average cost per item is about $8,300.28 when 400 items are produced. D. The cost of producing 400 items is about $7,000.28. Click to select your answer(s).

          Consider the following cost function.
a. Find the average cost and marginal cost functions.
b. Determine the average and marginal cost when x = a.
c. Interpret the values obtained in part (b).
C(x) = 0.05x^3 + 0.6x^2 + 60x + 110, 0 ? x ? 1500, a = 400
a. The average cost function is C?(x) = ? ?.
The marginal cost is function is C'(x) = ? ?.
b. The average cost when x = a is $ ? ?. (Round to two decimal places as needed.)
The marginal cost when x = a is $ ? ?. (Round to two decimal places as needed.)
c. Choose the correct interpretation of the average cost when x = a.
A. The cost of producing the 401st item is about $1,854.00.
B. The average cost per item is about $8,300.28 when 400 items are produced.
C. The cost of producing 400 items is about $7,000.28.
D. The cost of producing the 401st item is about $24,540.00.
Choose the correct interpretation of the marginal cost when x = a.
A. The cost of producing the 401st item is about $24,540.00.
B. The cost of producing 401 items is about $654.00.
C. The average cost per item is about $8,300.28 when 400 items are produced.
D. The cost of producing 400 items is about $7,000.28.
Click to select your answer(s).

Consider the following cost function.
a. Find the average cost and marginal cost functions.
b. Determine the average and marginal cost when x = a.
c. Interpret the values obtained in part (b).
C(x) = 0.05x^3 + 0.6x^2 + 60x + 110, 0 ? x ? 1500, a = 400
a. The average cost function is C?(x) = ? ?.
The marginal cost is function is C'(x) = ? ?.
b. The average cost when x = a is ? ?. (Round to two decimal places as needed.)
The marginal cost when x = a is ? ?. (Round to two decimal places as needed.)
c. Choose the correct interpretation of the average cost when x = a.
A. The cost of producing the 401st item is about 1,854.00.
B. The average cost per item is about8,300.28 when 400 items are produced.
C. The cost of producing 400 items is about 7,000.28.
D. The cost of producing the 401st item is about24,540.00.
Choose the correct interpretation of the marginal cost when x = a.
A. The cost of producing the 401st item is about 24,540.00.
B. The cost of producing 401 items is about654.00.
C. The average cost per item is about 8,300.28 when 400 items are produced.
D. The cost of producing 400 items is about7,000.28.
Click to select your answer(s).

Added by Kelly E.

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