tudent/Assignment bmit dep 16829835 he cost of producing x ounces of gold from a
ID: 2895306 • Letter: T
Question
tudent/Assignment bmit dep 16829835 he cost of producing x ounces of gold from a new gold mine is C-x) dollars (a) What is the meaning of the derivative fYx)? What are its units? O f'Ux) is the rate of change of the production cost with respect to the number of ounces of gold produced. Its units are dallars per ounce. O fx) is the total production cost. Its units are dollars o Fx) is the average production cost with respect to the number of ounces of gold produced. Its units are dollars per ounce. O fx) is the total amount of gold produced. Its units are ounces (b) what does the statement 900)-12 mean? Tie total cost to produce 12 ounces of gold is approximately $900. Ater 900 ounces of gold have been produced, the average production cost is $12/ounce. So the cost of hich the produsction cost is increasing is $12/ounce. So the cost of producing the 900th (or 901st) ounce is about $12 Aner i2 ounces of gold have been produced, producing 900 ounces is about $12/ounce. the average peoduction cost is $900/ounce, So the cost of producing 12 ounces is about $900/ounce. Do you think the values of F) will increase or decrease in the short term? What about the long term? Expla In the short term, the values of U) wiSlectbecause more efficient use is made of start-up costs as x increases. But eventually rx) ght ALIENWAREExplanation / Answer
a) first option is correct: f'(X) is the rate of change of the production cost.................
b) 2nd option is correct ; after 900 ounces of gold has ...................cost is increasing in 12$/ounnce.so the cost ............
c)
in the short run the value of f'(x) will decrease because more ,,,,,,,,,,,,,,,,but eventually f'(x) might increse due.......
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