t Suppose that the monthly​ cost, in​ dollars, of producing x chairs is ​C(x)=0.005x3+0.07x2+15x+600​, and currently 35 chairs are produced monthly.   ​a) What is the current monthly​ cost? ​b) What is the marginal cost when x=35​? ​c) Use the result from part​ (b) to estimate the monthly cost of increasing production to 37 chairs per month. ​d) What would be the actual additional monthly cost of increasing production to 37

Survey Of Economics
10th Edition
ISBN:9781337111522
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Proudction Costs
Section: Chapter Questions
Problem 8SQP
icon
Related questions
Question
Please I need help on the math question I don't ge it Suppose that the monthly​ cost, in​ dollars, of producing x chairs is
​C(x)=0.005x3+0.07x2+15x+600​,
and currently
35
chairs are produced monthly.
 
​a)
What is the current monthly​ cost?
​b)
What is the marginal cost when
x=35​?
​c)
Use the result from part​ (b) to estimate the monthly cost of increasing production to
37
chairs per month.
​d)
What would be the actual additional monthly cost of increasing production to
37
chairs​ monthly?
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Knowledge Booster
Costs
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Survey Of Economics
Survey Of Economics
Economics
ISBN:
9781337111522
Author:
Tucker, Irvin B.
Publisher:
Cengage,
Micro Economics For Today
Micro Economics For Today
Economics
ISBN:
9781337613064
Author:
Tucker, Irvin B.
Publisher:
Cengage,
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Principles of Economics 2e
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
Managerial Economics: Applications, Strategies an…
Managerial Economics: Applications, Strategies an…
Economics
ISBN:
9781305506381
Author:
James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:
Cengage Learning
EBK HEALTH ECONOMICS AND POLICY
EBK HEALTH ECONOMICS AND POLICY
Economics
ISBN:
9781337668279
Author:
Henderson
Publisher:
YUZU