ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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**Transcription for Educational Website:** --- Consider the following cost function. a. Find the average cost and marginal cost functions. b. Determine the average and marginal cost when x = a. c. Interpret the values obtained in part (b). \[ C(x) = 0.04x^3 + 0.4x^2 + 30x + 130, \quad 0 \leq x \leq 1500, \quad a = 1000 \] --- **a.** The average cost function is \(\overline{C}(x) = \, \boxed{} \). --- (Note: This task requires calculating or inputting mathematical expressions or formulae. Ensure students are appropriately guided on how to derive and solve these expressions.)
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Transcribed Image Text:**Transcription for Educational Website:** --- Consider the following cost function. a. Find the average cost and marginal cost functions. b. Determine the average and marginal cost when x = a. c. Interpret the values obtained in part (b). \[ C(x) = 0.04x^3 + 0.4x^2 + 30x + 130, \quad 0 \leq x \leq 1500, \quad a = 1000 \] --- **a.** The average cost function is \(\overline{C}(x) = \, \boxed{} \). --- (Note: This task requires calculating or inputting mathematical expressions or formulae. Ensure students are appropriately guided on how to derive and solve these expressions.)
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