Question

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, to 401 units?


The total cost increase if production were increased one unit is :

.

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
The marginal cost is given by 2( 3q - 1)3 dollars per unit, where q is...
The marginal cost is given by 2( 3q - 1)3 dollars per unit, where q is the level of the production. By how much will the cost increase if the level of the production is increased from 1 to 10 units
If C(x) is the cost of producing x units of a commodity, then the average cost...
If C(x) is the cost of producing x units of a commodity, then the average cost per unit is a(x) = C(x)/x. Consider the C(x) given below. Round your answers to the nearest cent. C(x) = 54,000 + 90x + 4x3/2 (a) Find the total cost at a production level of 1000 units. .......................................$ (b) Find the average cost at a production level of 1000 units. ................................dollars per unit (c) Find the marginal cost at a production level of 1000...
At a certain factory, the marginal cost is 3(q - 4)2 dollars when the level of...
At a certain factory, the marginal cost is 3(q - 4)2 dollars when the level of production is q units. By how much will the total manufacturing cost increase if the level of production is rised from 6 units to 10 units?
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.
When production is 4300, marginal revenue is 3.5 dollars per unit and marginal cost is 3.25...
When production is 4300, marginal revenue is 3.5 dollars per unit and marginal cost is 3.25 dollars per unit. Do you expect maximum profit to occur at a production level above or below 4300? equation editor Equation Editor (Enter above or below.) If production is increased by 70 units, what would you estimate the change in profit would be? dπ≈ equation editor Equation Editor dollars
The marginal cost of producing the remarkable Apple iPad Pro is ?′(?)=3?2−16?+32 million dollars when producing...
The marginal cost of producing the remarkable Apple iPad Pro is ?′(?)=3?2−16?+32 million dollars when producing ?  million units. By how much will the total manufacturing cost increase if the level of production is raised from 1 million to 3 million units?
The marginal cost, in dollars per unit, for a company's portable heater is C'(q) = 48...
The marginal cost, in dollars per unit, for a company's portable heater is C'(q) = 48 − 0.03q + 0.00002q2 and the marginal revenue is R'(q) = 44 − 0.007q. Find the area A between the graphs of these functions for 0 ≤ q ≤ 210. (Note that C'(q) > R'(q) for 0 ≤ q ≤ 210. Round your answer to two decimal places.)
Assume that marginal revenue equals rising marginal cost at 100 units of output. At this output...
Assume that marginal revenue equals rising marginal cost at 100 units of output. At this output level, a firm's total fixed cost is $500 and its total variable cost is $600. If the price of the product were $3 per unit and the firm follows its optimal strategy, the firm will earn an economic profit equal to? a. -$600 b. -$500 c. $300 d. -$1,100 e. -$400
The marginal cost of a product can be thought of as the cost of producing one...
The marginal cost of a product can be thought of as the cost of producing one additional unit of output. For​ example, if the marginal cost of producing the 50th product is​ $6.20, it cost​ $6.20 to increase production from 49 to 50 units of output. Suppose the marginal cost C​ (in dollars) to produce x thousand mp3 players is given by the function Upper C left parenthesis x right parenthesis equals x squared minus 120 x plus 7500.C(x) =...
For each cost function (given in dollars), find the cost, average cost, and marginal cost at...
For each cost function (given in dollars), find the cost, average cost, and marginal cost at a production level of 1000 units; the production level that will minimize the average cost; and the minimum average cost. C(q) = 6,000 + 340q − 0.3q2 + 0.0001q3 (a) the cost, average cost, and marginal cost at a production level of 1000 units (b) the production level that will minimize the average cost (Round your answer to the nearest integer.) (c) the minimum...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT