Lesson 9: Marginal Analysis

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Presentation transcript:

Lesson 9: Marginal Analysis MATH 1314 Lesson 9: Marginal Analysis

Marginal Cost

Average Cost and Marginal Average Cost

Marginal Revenue

fitpoly(L,1) R(x)=x*f(x)

Marginal Profit:

Popper 8: The cost function for producing x items is C(x) = -0.2x2 + 1000x + 20000, and the revenue of producing x items is R(x) = 30x. Determine the marginal cost function. Determine the average cost function. Determine marginal revenue function. Determine the profit function. 30 b. 0.2x2 – 970x – 20000 c. -0.4x + 1000 d. -0.2x + 1000 + (20000/x)

Popper 8…continued: 5. Determine the cost of producing the 501st item. 6. Determine the average cost of producing the 500 items. a. $47800 b. $800 c. $15000 d. $940