The Marginal Cost Function $C^{\prime}(x)$ Is Defined to Be the Derivative of the Cost Function

question 59

Multiple Choice

The marginal cost function $C^{\prime}(x)$ is defined to be the derivative of the cost function. If the marginal cost of manufacturing x units of a product is $C^{\prime}(x) =0.009 x^{2}-1.8 x+9$ (measured in dollars per unit) and the fixed start-up cost is $C(0) =2,200,000$ , use the Total Change Theorem to find the cost of producing the first 5,000 units.

• A) $35,454,500
• B) $35,484,500
• C) $35,444,500
• D) $35,434,500
• E) $ \(35,474,500\)

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Definitions:

Marginal Utility

The extra pleasure or benefit a consumer receives from purchasing an additional unit of a product or service.

Utility Schedule

A table or graph that shows the total utility or satisfaction that a consumer derives from consuming various quantities of a good or service.

Marginal Utility

The incremental utility or joy received when one more unit of a good or service is consumed.

Total Utility

The absolute gratification obtained through the intake of a certain quantity of products or services.