Reference no: EM132080242

The cost (in dollars) of producing q items is given by C(q)=0.03q?3??+30q+6000.

(a) Find the marginal cost function.

C?′??(q)= ___?____

(b) Find C(70) and C?′??(70). Give units with your answer and explain what each is telling you about costs of production.

C(70)= ___?____ (Units, choose from: dollars, dollars per item, items per dollar, items)

Which is correct?

1. C(70) tells us how much it costs to produce 70 items.

2. C(70) tells us the approximate change in cost to produce one additional item.

3. C(70) tells us how many items can be produced at a cost of 70 dollars.

4. C(70) tells us the approximate change in the number of items produced per dollar.

C?′??(70) = ___?____ (Units, choose from: dollars, dollars per item, items per dollar, items)

Which is correct?

1. C'(70) tells us how much it costs to produce 70  items.

2. C'(70) tells us how many items can be produced at a cost of 70  dollars.

3. C'(70) tells us the approximate change in the number of items produced per dollar.

4. C'(70) tells us the approximate change in cost to produce one additional item after 70 have been produced