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The cost of producing 2 ounces of gold from a new gold mine is C f x dollars a What is the meaning of the derivative f 2 What are its units Of x is the rate of change of the production cost with respect to the number of ounces of gold produced Its units are dollars per ounce Of x is the average production cost with respect to the number of ounces of gold produced Its units are dollars per ounce Of x is the total production cost Its units are dollars Of x is the total amount of gold produced Its units are ounces b What does the statement f 700 13 mean O The total cost to produce 13 ounces of gold is approximately 700 O After 13 ounces of gold have been produced the average production cost is 700 ounce So the cost of producting 13 ounces is about 700 ounce O After 700 ounces of gold have been produced the average production cost is 13 ounce So the cost of producing 700 ounces is about 13 ounce After 700 ounces of gold have been produced the rate at which the production cost is increasing is 13 ounce So the cost of producing the 700 th or 701 st ounce is about 13 c Do you think the values of f x will increase or decrease in the short term What about the long term Explain In the short term the values of f x will Select an answer of start up costs as a increases But eventually f x might operations because more efficient use is made Select an answer due to large scale

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