Question

3) The marginal cost for producing x items can be given by the formula: C ′...

3) The marginal cost for producing x items can be given by the formula: C ′ ( x ) = 350 − 0.18 x. Find the total cost function if the cost of making 300 items is known to be $97,400.

a) What are the fixed costs?

b) How much would it cost to make 500 items?

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
7. Suppose the cost, in dollars, of producing x items is given by the function C(x)...
7. Suppose the cost, in dollars, of producing x items is given by the function C(x) = 1/6x3+ 2x2+ 30. Current production is at x = 9 units. (a) (3 points) Use marginal analysis to find the marginal cost of producing the 10th unit. (b) (3 points) Find the actual cost of producing the 10th unit.
The cost function for producing x items is C(x) = 45000 + 25x - 0.10x^2. The...
The cost function for producing x items is C(x) = 45000 + 25x - 0.10x^2. The revenue function R(x) = 750 - 0.60x^2. a.Determine the production cost for the first 500 items. b.The marginal cost function. c.How fast is the cost growing when production is at 500 units. d.The average cost per item for the first 500 items. e.The marginal revernue function R'(x). f.The profit function. g.The marginal profit function. h.What production level maximizes revenue.
The marginal cost C′(q) (in dollars per unit) of producing q units is given in the...
The marginal cost C′(q) (in dollars per unit) of producing q units is given in the following table. q 0 100 200 300 400 500 600 C′(q) 26 22 20 26 33 38 46 Round your answers to the nearest integers. (a) If fixed cost is $17,000, estimate the total cost of producing 400 units. The cost of producing 400 units is: (b) To the nearest dollar, how much would the total cost increase if production were increased one unit,...
Suppose that the cost of producing x units, C(x), is a linear function. Furthermore, it is...
Suppose that the cost of producing x units, C(x), is a linear function. Furthermore, it is known the marginal cost is $1.50 and that the cost of producing 50 units is $2,275. a) Determine a formula for C(x) b) Determine the fixed cost
The marginal cost of producing the xth box of CDs is given by 10 − x/(x2...
The marginal cost of producing the xth box of CDs is given by 10 − x/(x2 + 1)2.  The total cost to produce two boxes is $1,000. Find the total cost function
For a certain company, the cost for producing x items is 50x+300 and the revenue for...
For a certain company, the cost for producing x items is 50x+300 and the revenue for selling x items is 90x−0.5x2. The profit that the company makes is how much it takes in (revenue) minus how much it spends (cost). In economic models, one typically assumes that a company wants to maximize its profit, or at least wants to make a profit! Part a: Set up an expression for the profit from producing and selling x items. We assume that...
For a certain company, the cost for producing x items is 50x+300 and the revenue for...
For a certain company, the cost for producing x items is 50x+300 and the revenue for selling x items is 90x−0.5x2. The profit that the company makes is how much it takes in (revenue) minus how much it spends (cost). In economic models, one typically assumes that a company wants to maximize its profit, or at least wants to make a profit! Part a: Set up an expression for the profit from producing and selling x items. We assume that...
For a certain company, the cost for producing x items is 50x+300 and the revenue for...
For a certain company, the cost for producing x items is 50x+300 and the revenue for selling x items is 90x−0.5x2. The profit that the company makes is how much it takes in (revenue) minus how much it spends (cost). In economic models, one typically assumes that a company wants to maximize its profit, or at least wants to make a profit! Part a: Set up an expression for the profit from producing and selling x items. We assume that...
For a certain company, the cost of producing x items is 55x+300 and the revenue for...
For a certain company, the cost of producing x items is 55x+300 and the revenue for selling x items is 95x-0.5^2. Part A: Set up an expression for the profit from producing and selling x items. Part B: Find two values of x that will create a profit $300. Part C: Is it possible for the company to make a profit of $15000?
A company is producing tires for cars. The weekly cost of producing x tires is given...
A company is producing tires for cars. The weekly cost of producing x tires is given by: C(x) = 60,000 +500x - 0.75x^2 Find and interpret the marginal cost at a production level of 300 tires a week. At a production level of 300 tires a week the production costs are increasing at a rate of $50 per tires. It costs $142,500 to produce 300 tires a week. At a production level of 300 tires a week the production costs...