Math Problem Statement

Round your answers to two decimal places. ****  Suppose that **** 

C(x) = 0.02x2 + 5x + 2,416

is the total cost (in dollars) for a company to produce x units of a certain product. 

Compute the

 marginal and actual cost for x = 90. ****  Marginal cost is $ and actual cost is $.

Solution

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Math Problem Analysis

Mathematical Concepts

Calculus
Cost Functions
Derivatives

Formulas

Total cost function: C(x) = 0.02x^2 + 5x + 2416
Marginal cost: C'(x) = d(C(x))/dx
Actual cost: C(x) evaluated at x = 90

Theorems

Derivative Rules

Suitable Grade Level

Grades 10-12 (Advanced high school calculus)