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