Question
Suppose that the monthly cost, in dollars, of producing x chairs is C(x)=0.001x^3+0.07x^2+16x+600, and currently 90...
Suppose that the monthly cost, in dollars, of producing x chairs is C(x)=0.001x^3+0.07x^2+16x+600, and currently 90 chairs are produced monthly.
a)
What is the current monthly cost?
b)
What is the marginal cost when x= 90?
c)
Use the result from part (b) to estimate the monthly cost of
increasing production to 92 chairs per month.
d)
What would be the actual additional monthly cost of increasing
production to 92 chairs monthly?
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