Question

The cost of producing x units of a certain commodity is given by P(x) = 100 + (def integral from 0 to x)MC(s)ds, where P is in dollars and M(x) is marginal cost in dollars per unit.

Answer 1

A. Suppose the marginal cost at production level of 500 units is $10 per unit, and the cost of producing 500 units is $12000 (that is, M(500) = 10 and p(500) = 12000). Use tangent line approximation to estimate the cost of producing only 497 units.

Answer 2

B. Suppose the production schedule is such that the company produces five units each day. That is, the number of units produced is x = 5t, where t is in days, and t=0 corresponds to the beginning of production. Write an equation for the cost of production P as a function of time t.

Answer 3

C. Use your equation for P(t) from part B to find dP/dt. Be sure to indicate units and describe what dP/dt represents, practically speaking.

Answer 4

I don't need an answer I just need an explanation on how to approach the problem because I'm just not getting it

Answer 5

please i need help .... this is due today...