The total cost (in hundreds of dollars) to produce x units of a product is c(x) = (3x-2) / (8x+1), find the average cost for eac
h of the following production.a) 50 unitsb) x unitsc) find the marginal average cost function.
1 answer:
Answer:
a) 
b) 
c) 
Step-by-step explanation:
For total cost function
, average cost is given by
i.e., total cost divided by number of units produced.
Marginal average cost function refers to derivative of the average cost function i.e., 
Given:
Average cost = 
a)
At x = 50 units,

b)
Average cost = 
c)
Marginal average cost:
Differentiate average cost with respect to 
Take 
using quotient rule, 
Therefore,

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