Suppose the monthly cost for manufacturing bar stools i $C ( x ) = 529 + 23 x$ x, where x is the number of bar stools produced each month. Find and interpret the marginal cost for the product.
A) $529 per bar stool; Manufacturing one additional bar stool increases the cost by $529.
B) $529 per bar stool; Manufacturing one additional bar stool decreases the cost by $529.
C) $23 per bar stool; Manufacturing one additional bar stool decreases the cost by $23.
D) $23 per bar stool; Manufacturing one additional bar stool increases the cost by $23.

Question

Quizplus · Accepted Answer

The marginal cost is the derivative of the total cost function with respect to x, which in this case is $23. This means for each additional bar stool produced, the cost increases by $23.

Suppose the Monthly Cost for Manufacturing Bar Stools I C(x)=529+23xC ( x ) = 529 + 23 xC(x)=529+23x

Suppose the Monthly Cost for Manufacturing Bar Stools I $C ( x ) = 529 + 23 x$