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29 Oct 2018
6. Assume the following throughout all of this question: a manufacturer finds that, when 8 units of a product are made, the total cost of production is $1,112 and $38.80 is the marginal cost. (a) Find the approximate cost to produce 9 units. Round your answer up to the nearest 1/100-th of a dollar. In the remainder of this question, assume the cost function for the product in part (a) and above has the special form C(q) = Aq+1 +K where A, B, and K are positive constants and q> 0 is the quantity produced. (b) If C) is the average cost and lim C(q) = 40, find A. [3 points) (c) Find the value of the constants B and K. [7 points)
6. Assume the following throughout all of this question: a manufacturer finds that, when 8 units of a product are made, the total cost of production is $1,112 and $38.80 is the marginal cost. (a) Find the approximate cost to produce 9 units. Round your answer up to the nearest 1/100-th of a dollar. In the remainder of this question, assume the cost function for the product in part (a) and above has the special form C(q) = Aq+1 +K where A, B, and K are positive constants and q> 0 is the quantity produced. (b) If C) is the average cost and lim C(q) = 40, find A. [3 points) (c) Find the value of the constants B and K. [7 points)
Elin HesselLv2
31 Oct 2018
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