Question

The marginal cost of oil production, in dollars per barrel, is represented by c'(x), where x is the number of barrels of oil produced. Report the units of c'(x) dx and interpret what the integral means.

a) Units: dollars, Interpretation: Total cost
b) Units: dollars per barrel, Interpretation: Total cost
c) Units: dollars, Interpretation: Marginal cost
d) Units: dollars per barrel, Interpretation: Marginal cost

Answer 1

The units of c'(x) dx are dollars per barrel, and the integral represents the accumulated additional cost of producing x barrels of oil.

This measures the total cost associated with producing a certain quantity of barrels of oil.

Step-by-step explanation:

The units of c'(x) dx are dollars per barrel. The integral of c'(x) dx represents the accumulated additional cost when producing x barrels of oil.

This means that it measures the total cost associated with producing a certain quantity of barrels of oil.