The marginal cost of a product can be thought of as the cost of producing...
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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 C(x) = x- 120x+7200.A. How many players should be produced to minimize the marginal cost?B. What is the minimum marginal cost?
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 C(x) = x- 120x+7200.A. How many players should be produced to minimize the marginal cost?B. What is the minimum marginal cost?
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