Suppose That the Total Cost Function, in Dollars, for a Certain

question 22

Multiple Choice

Suppose that the total cost function, in dollars, for a certain commodity is given by , where x is the number of units produced. Find the instantaneous rate of change of the average cost for any level of production. ​

---

Definitions:

Interest Rate

The percentage of an amount of money which is charged for its use per some period of time, often annually.

Real Rate

The interest rate adjusted for inflation, reflecting the true cost of borrowing or the true return on investment.

Nominal Rate

The interest rate before adjustments for inflation, as opposed to the real rate, which is adjusted for inflation.

Rate of Inflation

The percent change in the price level of goods and services in an economy over a period of time, usually measured annually.