Concept explainers
Work the following exercises.
Average Cost A cost function is given by
a. Find the average-cost function
b. Find the marginal average-cost function
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Mathematics with Applications In the Management, Natural, and Social Sciences (12th Edition)
- The cost in dollars of making x items is given by the function Cx)=10x+500. a. The fixed cost is determined when zero items are produced. Find the fixed cost for this item. b.What is the cost of making 25 items? c.Suppose the maximum cost allowed is SI500. What are the domain and range of the cost function, C(x) ?arrow_forwardFor the following exercises, use the graph in Figure 8, which shows the profit, y, in thousands of dollars, of a companyin a given year, t, where trepresents the number of years since 1980. 35. Find the linear function y, where y depends on t, the number of years since 1980.arrow_forwardFor the following exercises, use the graph in Figure 3, showing the profit, y, in thousands of dollars, of a companyin a given year, x, where x represents years since 1980. Find the linear function y, where y depends on x,the number of years since 1980.arrow_forward
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