When a toy factory makes x dolls a day their total cost is C(x) = 50 + 9x + 0.02x² dollars. What is the average cost of a doll when 58 dolls are made in one day? а. b. What is the marginal cost when 58 dolls are made in one day?
When a toy factory makes x dolls a day their total cost is C(x) = 50 + 9x + 0.02x² dollars. What is the average cost of a doll when 58 dolls are made in one day? а. b. What is the marginal cost when 58 dolls are made in one day?
Chapter6: Proudction Costs
Section: Chapter Questions
Problem 4SQ
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Exploring Economics
Economics
ISBN:
9781544336329
Author:
Robert L. Sexton
Publisher:
SAGE Publications, Inc
Essentials of Economics (MindTap Course List)
Economics
ISBN:
9781337091992
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning