Suppose That the Cost of Manufacturing X Units of a Product

question 53

Short Answer

Suppose that the cost of manufacturing x units of a product is C(x) = 6x - 2 $\sqrt { x }$ + 1 dollars and that the production level t weeks from the present is x = 4 $t ^ { 2 }$ . Find the rate of change in cost with respect to time. Enter your answer as a polynomial in t in standard form (not labeled).

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Definitions:

Classical Economists

Classical economists are scholars from the 18th and 19th centuries who laid the foundation of economic theory, emphasizing free markets, competition, and the self-regulating nature of economies.

Market Economy

An economic system where the allocation of resources is determined by supply and demand in the market rather than by a central plan.

Unemployment

The situation in which people who are able and willing to work cannot find a job.

Real Output

The production of goods and services in an economy adjusted for inflation, allowing for comparison of economic productivity over different time periods by reflecting the actual volume of production.