marginal cost a division of ditton industries manufactures the futura model microwave oven. the daily cost…

marginal cost a division of ditton industries manufactures the futura model microwave oven. the daily cost (in dollars) of producing these microwave ovens given by the following function, where x stands for the number of units produced. c(x)=0.0002x³ - 0.06x² + 120x + 5000 (a) what is the actual cost incurred in manufacturing the 111st oven? the 191st oven? the 321st oven? (round your answers to the nearest cent.) (b) what is the marginal cost when x = 110, 190, and 320? (round your answers to the nearest cent.)
Answer
Explanation:
Step1: Recall marginal - cost formula
The marginal - cost function $C'(x)$ is the derivative of the cost function $C(x)$. Given $C(x)=0.002x^{3}-0.06x^{2}+120x + 5000$, using the power rule $\frac{d}{dx}(ax^{n})=nax^{n - 1}$, we have $C'(x)=0.006x^{2}-0.12x + 120$.
Step2: Calculate marginal cost at $x = 110$
Substitute $x = 110$ into $C'(x)$: [ \begin{align*} C'(110)&=0.006\times(110)^{2}-0.12\times110 + 120\ &=0.006\times12100-13.2 + 120\ &=72.6-13.2 + 120\ &=179.4 \end{align*} ]
Step3: Calculate marginal cost at $x = 190$
Substitute $x = 190$ into $C'(x)$: [ \begin{align*} C'(190)&=0.006\times(190)^{2}-0.12\times190 + 120\ &=0.006\times36100-22.8+120\ &=216.6-22.8 + 120\ &=313.8 \end{align*} ]
Step4: Calculate marginal cost at $x = 320$
Substitute $x = 320$ into $C'(x)$: [ \begin{align*} C'(320)&=0.006\times(320)^{2}-0.12\times320 + 120\ &=0.006\times102400-38.4 + 120\ &=614.4-38.4 + 120\ &=696 \end{align*} ]
Answer:
When $x = 110$, the marginal cost is $$179.40$. When $x = 190$, the marginal cost is $$313.80$. When $x = 320$, the marginal cost is $$696.00$.