Solve the Problem $\mathrm { C } = 200 \mathrm { n }^{ 1 / 3} + 1400$

question 313

Multiple Choice

Solve the problem.
-A manufacturer's cost is given by $\mathrm { C } = 200 \mathrm { n }^{ 1 / 3} + 1400$ , where $\mathrm { C }$ is the cost in dollars and $\mathrm { n }$ is the number of parts produced. Find the cost when 729 parts are produced.

• A) \(\$ 3200\)
• B) \(\$ 2300\)
• C) \(\$ 6800\)
• D) \(\$ 22\)

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Definitions:

Long Run

A period of time in which all factors of production and costs are variable, and firms can enter or exit the industry.

Market Entry

The process by which a new competitor enters an existing market to offer goods or services.

Profits Maximize

The process of adjusting production and operations to achieve the highest possible profit margins.

Restaurant Industry

A sector of the economy that is concerned with the preparation, sale, and service of food and beverages to customers.