A company estimates that the marginal cost (in dollars per item) of producing x items is 1.85 − 0.004x. If the cost of producing one item is $550, find the cost of producing 100 items.
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Tushar Chandra
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Marginal cost is defined as the change in cost of production C(x) if the number of items x being produced is changed, MC = C'(x)
In the problem MC = C'(x) = 1.85 - 0.004x
C(x) = 1.85x - 0.002x^2 + C
It is given that the cost of production of 1 unit is $550, this gives C(x) = 1.85x - 0.002x^2 + 550
The cost of producing 100 units is...
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