Math Problem Statement
A business manager determines that the cost of producing x units of a particular commodity is C thousands of dollars, where a) Find the change in the cost as the level of production increases from 10 to 11 units. b) Find the average cost as the level of production changes from 10 to 15 units. c) Find the instantaneous rate of change of the cost with respect to the production level when 10 units are produced. Is the cost increasing or decreasing? 𝐶 𝑥 = 0.04𝑥 2 + 5.1𝑥 + 40
Solution
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Math Problem Analysis
Mathematical Concepts
Calculus
Algebra
Cost Functions
Average Rate of Change
Instantaneous Rate of Change
Formulas
Cost function: C(x) = 0.04x^2 + 5.1x + 40
Average rate of change: (C(b) - C(a)) / (b - a)
Instantaneous rate of change (derivative): C'(x)
Theorems
Derivative as Instantaneous Rate of Change
Suitable Grade Level
Grades 11-12
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