00:01
Hi there, so for this problem we're given that the cost function in terms of x is equal to 1 ,300 plus 0 .2 times x and then x is between 0 and 5 ,000 and then a is equal to 1 ,400.
00:22
So with that said, the first question for this is about to find the average cost and marginal cost function.
00:28
Now the average cost function is just this cost function divided by x.
00:32
So that will be then 1 ,300 divided by x plus 0 .2.
00:37
So that will be the average cost.
00:40
And the marginal cost is just derivative of the function that we are given with respect to x.
00:47
So that will give us just simply 0 .2 and that's it.
00:51
So that's the marginal cost.
00:54
And now the next question is for par b is to determine the average and marginal cost.
00:59
When x is equal to 8...