The marginal cost function and the rate of increase of cost of Play Station when x = 60 , 000 such that its cost is given by the function C ( x ) = 800 , 000 + 340 x + 0.0005 x 2 dollars where x is the number of manufacturing Play Station 4 ' s in an hour and compare the answer with the cost of producing the 60 , 001 st PlayStation 4 .
The marginal cost function and the rate of increase of cost of Play Station when x = 60 , 000 such that its cost is given by the function C ( x ) = 800 , 000 + 340 x + 0.0005 x 2 dollars where x is the number of manufacturing Play Station 4 ' s in an hour and compare the answer with the cost of producing the 60 , 001 st PlayStation 4 .
Solution Summary: The author calculates the marginal cost function and the rate of increase of cost of Play Station when x=60,000.
To calculate: The marginal cost function and the rate of increase of cost of Play Station when x=60,000 such that its cost is given by the function C(x)=800,000+340x+0.0005x2 dollars where x is the number of manufacturing Play Station 4's in an hour and compare the answer with the cost of producing the 60,001st PlayStation 4.
(b)
To determine
To calculate: The average cost function C¯ and C¯(60,000) such that its cost of PlayStation is given by the function C(x)=800,000+340x+0.0005x2 dollars where x is the number of manufacturing PlayStation 4's in an hour.
(c)
To determine
Whether the average cost is rising or falling at a production of 60,000 PlayStation 4 from the answers derived from part (a) and part (b) such that cost of PlayStation is given by the function C(x)=800,000+340x+0.0005x2 dollars where x is the number of manufacturing PlayStation 4's in an hour.