Peter Kasongi
Dec 17, 2023
Total cost function running a certain business entity was found to be cost functions =50000+15X+0.01X² where X is output product calculate The actual cost of running entry?
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Dec 17, 2023
To calculate the actual cost of running the business entity, we need to substitute the value of X into the cost function.
The cost function is given as: cost = 50000 + 15X + 0.01X²
Let's say the output product is X = 100.
Substituting X = 100 into the cost function:
cost = 50000 + 15(100) + 0.01(100)²
= 50000 + 1500 + 0.01(10000)
= 50000 + 1500 + 100
= 51500 + 100
= 51600
Therefore, the actual cost of running the business entity with an output product of X = 100 is $51,600.
The cost function is given as: cost = 50000 + 15X + 0.01X²
Let's say the output product is X = 100.
Substituting X = 100 into the cost function:
cost = 50000 + 15(100) + 0.01(100)²
= 50000 + 1500 + 0.01(10000)
= 50000 + 1500 + 100
= 51500 + 100
= 51600
Therefore, the actual cost of running the business entity with an output product of X = 100 is $51,600.
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