Explain why marginal product first rises, then declines, and ultimately becomes negative. What bearing does the law of diminishi
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Answer:
The cost per month is increasing at a rate $365.
Explanation:
Differentiation Formula
[ where a is a constant]
Given that,
A manufacturer of handcrafted wine racks has determined that the cost to produce x units per month is given by
.
Again given that,
the rate of changing production is 13 unit per month
i.e
To find the cost per month, we need to find out the value when production is changing at the rate 13 units per month and the production is 70 units.
Differentiating with respect to t
Plugging
[ plugging x=70]
=364
[ The unit of c is not given. Assume that the unit of c is dollar.]
The cost per month is increasing at a rate $365.