The cost of producing 5-gallon water bottles is given by C(q) = 0.005q2 + 2q + 1000. If 2000 5-gallon water bottles are produced, find the total cost
The cost of producing 5-gallon water bottles is given by C(q) = 0.005q2 + 2q + 1000. If 2000 5-gallon water bottles are produced, find the total cost
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter3: Benefits, Costs, And Decisions
Section: Chapter Questions
Problem 8MC
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Question
The cost of producing 5-gallon water bottles is given by
C(q) = 0.005q2 + 2q + 1000.
If 2000 5-gallon water bottles are produced, find the total cost
Expert Solution
Step 1
Total costs, C(q) = 0.005q2 + 2q + 1000.
Quantity = 2000 units
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