Suppose that the cost function for a commodity is dollars. Calculate to find the actual cost of producing the 4th unit. Round your answer to two decimal places.
A)$8.78
B)$8.00
C)$8.39
D)$8.33
E)$8.06

Question

Suppose that the cost function for a commodity is  dollars. Calculate  to find the actual cost of producing the 4th unit. Round your answer to two decimal places. ​
A)$8.78 
B)$8.00 
C)$8.39 
D)$8.33 
E)$8.06

Quizplus · Accepted Answer

We are given a cost function of 11eb0d3b_9857_1efc_9790_198e4b0cba31_TB1243_11 dollars, which means that the cost to produce x units is 11eb0d3b_9857_1efc_9790_198e4b0cba31_TB1243_11x dollars. 
To find the cost of producing the 4th unit, we plug in x=4:
11eb0d3b_9857_1efc_9790_198e4b0cba31_TB1243_11(4) = 44.36
Rounded to two decimal places, this gives us 8.39, which is answer choice C.

Suppose That the Cost Function for a Commodity Is