Question

If C(x) is the cost of producing x units of a commodity, then the average cost per unit is c(x) = C(x)/x. Consider the cost function C(x) given below. C(x) = 2,000 + 170x + 4x3/2 (a) Find the total cost at a production level of 1000 units. (Round your answer to the nearest cent.)

Answer 1

Answer: $2,98,491.106 ⇒ Total cost of production

Step-by-step explanation:

Given that,

Total cost of production at x = 1000 units

C(x) = 2000 + 170x + 4
`x^{(3)/(2) }`

C(1000) = 2000 + 170(1000) + 4
`1000^{(3)/(2) }`

= 2000 + 170000 + 126491.106

= $2,98,491.106 ⇒ Total cost of production

So, above is the cost of producing 1000 units.