The Function Given Below Gives the Cost to Manufacture X

question 140

Short Answer

The function given below gives the cost to manufacture x items. Estimate (using h = 0.0001)the instantaneous rate of change of the cost at the production level x = 1,000.
Enter your answer as a number without the units rounded to the nearest tenth.

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Definitions:

Utility Maximizing

The process or behavior of consumers attempting to get the greatest amount of satisfaction from their consumption choices, subject to their income and the prices of goods and services.

Consumption Map

A graphical representation showing different combinations of goods or services that provide equal satisfaction or utility to a consumer.

Budget Line

The budget line represents the combinations of two goods that a consumer can purchase with a given budget, taking into account the prices of the goods.

Consumer Preference

Individuals' or groups' choices and priorities regarding products, services, or other consumption activities.