Pa ntsArmsBrCalc3 3.5.009. me the cost function C(x) is measured in dollars. Com
ID: 2885768 • Letter: P
Question
Pa ntsArmsBrCalc3 3.5.009. me the cost function C(x) is measured in dollars. Complete the following. Assume C(x) 1x +14.9x + 2200 (a) Determine the marginal cost function MC. (b) Evaluate MC(x) for the production level x = 12. MC(12) Interpret MC(12). The estimated cost of producing the E-Select-y unit is (c) Evaluate the actual change in cost by evaluating C(x +1) C() E(13)-E(12) = Compare with the answer in part (b). The actual cost of producing the l-Select-V) unit is $ E-select-? ?l our estimate in part (b).Explanation / Answer
given
C(x)=(1/2)x2 +14.9x +2200
(a)
MC =C'(x)
=>MC=(1/2)*2x2-1 +14.9*1 + 0
=>MC=x+14.9
(b)
MC(12) =12+14.9
=>MC(12)=26.9
The estimated cost of producing the 13thunit is $ 26.90
(c)
C(13)-C(12)=((1/2)132 +14.9*13 +2200)-((1/2)122 +14.9*12 +2200)
=>C(13)-C(12)=(1/2)132 +14.9*13 -(1/2)122 -14.9*12
=>C(13)-C(12)=27.4
The actual cost of producing the 13th unit is $ 27.40 which is more than our estimate in part(b)
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