determine the cost function by integral
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Determine the cost function C(x) that corresponds to the marginal cost and fixed cost given.
Marginal cost = 30 - 0.05x,
Fixed cost = $100
(See attached file for full problem description)
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Please see the attached file for detailed solution.
The marginal cost (MC) function is expressed as the derivative of the total cost (TC) function with respect to quantity
so the total cost is the integral of ...
Solution Summary
The solution shows how to determine the cost function that corresponds to the specific marginal cost and fixed cost.
$2.49