The marginal cost of a product can be thought of as the cost of producing one additional unit of output. For example, if the marginal cost of producing the 50th product is $6.20, it cost $6.20 to increase productionn from 49 to 50 units of output. Suppose the marginal cost C(in dollars) to produce x thousand mp3 playersis given by the function C(x)=x^2-140x+7900.
How many players should be produced to minimize the marginal cost?
What is the minimum marginal cost?
1 answer
50
1 answer