Cost, revenue, and profit are in dollars and x is the number of units.
If the marginal cost for a product is MC = 150 + 0.15∑x and the total cost of producing 100 units is $25,000, find the total cost function.
C(x) =
Find the fixed costs (in dollars).
$
Cost, revenue, and profit are in dollars and x is the number of units.
The average cost of a product changes at the rate
C'(x) = -20/x^2 + 1/10
and the average cost of 10 units is $40.00.
(a) Find the average cost function.
C =
(b) Find the average cost of 20 units. (Round your answer to two decimal places.)
$