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Is this more or less than the actual cost of the 6th glass

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Question: Suppose you're starting a small company selling lemonade from a stand. Suppose that you have fixed costs equal to $100 (e.g. the price of the lemonade stand, etc.) and variable costs equal to .02x2 .05x dollars, where x is the number of glasses of lemonade you want to make (the more glasses you make, the more it costs you). (a) Your total cost C(x) is the sum of your fixed and variable costs. Find a formula for C(x). (b) Find the marginal cost function MC(x). (c) Use the marginal cost to estimate the cost of the 6th glass of lemonade. Is this more or less than the actual cost of the 6th glass?

Reference no: EM133574094

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