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Total Cost to Produce Products

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Homework Set 17: Problem 2 Section 5.5, Problem 3 Section 5.5, Problem 12 Section 5.5

Section 5.5: Problem 3 pg. 262

3. The total cost in dollars to produce q units of a product is C(q). Fixed costs are $20,000. The marginal cost is

C'(q)= 0.005q2 -q+56

A. On a graph of C'(q), illustrate graphically the total variable costs of producing 150 units.

B. Evaluate C(150), the total cost to produce 150 units.

C. Find the value of C'(150) and interpret your answer in terms of costs of production.

D. Use parts (B) and (C) to estimate C(151).

12. The net worth, f(t), of a company is growing at a rate of f'(t) =2000-12t2 dollars per year, where t is in years since 2005. How is the net worth of the company expected to change between 2005 and 2015? If the company is world $40,000 in 2005, what is worth in 2015?

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The solution determines the total cost to produce products.

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