The total cost function to produce x handcrafted weather vanes is given by:
C(x) = 100 + 12x + 0.1x^2
Find the marginal cost when 10 handcrafted weather vanes are produced?
Also,
What will be the average rate of cost if we increase the production of the handcrafted weather vanes from 5 to 10 units?
I have a test tomorrow and was unable to find solutions to these.
Thank you so much for your help!
C(x) = 100 + 12x + 0.1x^2
Find the marginal cost when 10 handcrafted weather vanes are produced?
Also,
What will be the average rate of cost if we increase the production of the handcrafted weather vanes from 5 to 10 units?
I have a test tomorrow and was unable to find solutions to these.
Thank you so much for your help!
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The marginal cost function is the derivative of the cost function.
MC(x)=12+.2x
MC(10)=12+2=14
The second question doesn't make much sense, because the average rate of cost for 10 units doesn't matter if it was increased from 5, but:
(Cost to produce 10)/10 = Average cost to produce a weather vane when you are making 10
C(10)/10=(100+120+10)/10=230/10= 23
MC(x)=12+.2x
MC(10)=12+2=14
The second question doesn't make much sense, because the average rate of cost for 10 units doesn't matter if it was increased from 5, but:
(Cost to produce 10)/10 = Average cost to produce a weather vane when you are making 10
C(10)/10=(100+120+10)/10=230/10= 23
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My teacher is from Kazihkstan. I hope I spelled that correctly, and he has a hard time with english, so I'm not surprised the question doesn't make much of sense. Thanks again!
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