Which of the following correctly relates the average cost function Cave(x) to the marginal average cost function C,ave (x) when trying to estimate the value of the average cost at the next x-value? Cave(z + 1) = Cave( + 1) + Cave(z + 1) %3D OCarelx+1) Caelx)+Cave(x) O Cae (z + 1) = Cane(z) %3D

Suppose a product's revenue function is given by R(q) = -3q² + 800q, where R(q) is in dollars and q is units sold. Also, it's cost function is given by C(q) = 34q+26667, where C(q) is in dollars and q is units produced. Find a simplified expression for the item's Marginal Profit function (P'(aq)) and record your answer in the box. Be sure to use the correct variable. (Use the Preview button to check your syntax before submitting your final result). Answer: P'(q)

You have been placed in charge of minimizing costs on a production line. The cost model is C=100x-12^2+3x^3. The variable x represents the level of production for the given cost. Determine the production level that minimizes the average cost. A.)  Find the marginal cost.  (Divide by x and take 1st derivative) B.)  What is the production level?

Let C(x) be the cost function and R(x) the revenue function. Compute the marginal cost, marginal revenue, and the marginal profit functions. C(x) = 0.0005x^3 - 0.012x^2 + 100x + 30,000 R(x) = 450x