Question

Any help will be appreciated! For the given cost function C(x) = 128√x + x²/8000, find:

a) The cost at the production level 1700
b) The average cost at the production level 1700
c) The marginal cost at the product

Answer 1

To find the cost at the production level 1700, substitute x = 1700 into the cost function. To find the average cost at the production level 1700, divide the cost at the production level 1700 by the quantity produced. To find the marginal cost at the production level, take the derivative of the cost function with respect to x and evaluate it at the production level.

Step-by-step explanation:

The cost function given is C(x) = 128√x + x²/8000.

a) To find the cost at the production level 1700, substitute x = 1700 into the cost function: C(1700) = 128√1700 + 1700²/8000. Calculate the value of C(1700).

b) To find the average cost at the production level 1700, divide the cost at the production level 1700 by the quantity produced: average cost = C(1700)/1700. Calculate the value of the average cost at the production level 1700.

c) To find the marginal cost at the production level, take the derivative of the cost function with respect to x and evaluate it at the production level: marginal cost = dC(x)/dx |x=1700. Calculate the value of the marginal cost at the production level 1700.