Consider the cost function C x 5x 14x 16 thousand dollars a What is the...
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Calculus
Consider the cost function C x 5x 14x 16 thousand dollars a What is the marginal cost at production level x 4 b Use the marginal cost at x 4 to estimate the cost of producing 4 25 units c Let R x x 51x 51 denote the revenue in thousands of dollars generated from the production of x units What is the break even point Recall that the break even point is when the revenue is equal to the cost d Compute and compare the marginal revenue and marginal cost at the break even point Should the company increase production beyond the break even point a The marginal cost at production level x 4 is
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