The marginal cost of a product can be thought of as the cost of producing one additional unit of output.

Question

The marginal cost of a product can be thought of as the cost of producing one additional unit of output. For​example, if the marginal cost of producing the 50th product is​ $6.20, it cost​ $6.20 to increase production from 49 to 50 units of output. Suppose the marginal cost C​ (in dollars) to produce x thousand mp3 players is given by the function C(x) = x2−140x+7800. A. How many players should be produced to minimize the marginal​ cost?

B. What is the minimum marginal​ cost?

Answer 1

0 = dC/dx = 2x-140

2x=140

x=70

C(70) = 70^2 -140*70 + 7800

= 4900 -9800 + 7800

= 2900