The total cost (in hundreds of dollars) to produce x units of a product is C(x) = (5x - 8) / (3x + 7). Find the average cost for each of the following production levels. a. 15 units b. x units c. Find the marginal average cost function. The average cost for 15 units is $1.29 per unit. (Round to the nearest hundredth as needed.) The average cost for x units is (5x - 8) / (x(3x + 7)) hundred dollars per unit. The marginal average cost function is C'(x) = 59 / (3x + 7)^2.
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Given: C(x) = 5x - 3x + 7 Substitute x = 15 into the cost function: C(15) = 5(15) - 3(15) + 7 C(15) = 75 - 45 + 7 C(15) = 37 Therefore, the average cost for 15 units is $1.29 per unit. Show more…
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