04:08

Applied Calculus For Business, Economics, and Finance

The cost, in dollars, of producing $x$ bicycles is given by $C(x)=60+$ $10 x+1000 / x(x \geq 10) .$ (a) What does it cost to produce: (i) 99; (ii) 1 00 bicycles? (b) What is the cost of producing the 100 th bicycle? (i) Find it exactly; (ii) Use the derivative to find it approximately. (c) What is the error in using the derivative to approximate the marginal cost of the 100 th bicycle?

(d) What is the average cost per bicycle when producing the 100 bicycles?