Describe the shape of the graph of the cost function

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Reference no: EM131269122

Production costs:-

The graph of the marginal cost function from the production of x thousand bottles of sunscreen per month [where cost C(x) is in thousands of dollars per month] is given in the figure.

1371_Graph 2.jpg

(A) Using the graph shown, describe the shape of the graph of the cost function C(x) as x increases from 0 to 8,000 bottles per month.

(B) Given the equation of the marginal cost function,

c'(x) = 3x² - 24x + 53

find the cost function if monthly fixed costs at 0 output are $30,000. What is the cost of manufacturing 4,000 bottles per month? 8,000 bottles per month?

(D) Why do you think that the graph of the cost function is steeper at both ends than in the middle?

Reference no: EM131269122

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