Question

A mining company estimates that the marginal cost of extracting x tons of copper ore from a mine is 0.6 + 0.008x, measured in thousands of dollars per ton. Start-up costs are $150,000. What is the cost of extracting the first 50 tons of copper?

Answer 1

Answer:

The cost of extracting the first 50 tons of copper is $151,000.

Step-by-step explanation:

Start-up costs of $150,000.

For the 50 tons of cooper.

$C(x) = 0.6 + 0.008x$

So

$C(50) = 0.6 + 0.008*50 = 1$

1 thousand dollars.

So

$150,000 + $1,000 = $151,000

The cost of extracting the first 50 tons of copper is $151,000.