The cost in dollars to produce x litres of maple syrup for the Elmira Maple...
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The cost in dollars to produce x litres of maple syrup for the Elmira Maple Syrup Festival is C x 75 x 10 where x 400 a What is the average cost of producing 625 L b The marginal cost is C x and the marginal revenue is R x Marginal cost at x litres is the expected change in cost if we were to produce one additional litre of syrup Similarly for marginal revenue What is the marginal cost at 1225 L c How much production is needed to achieve a marginal cost of 0 50 L
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