A company estimates that the marginal cost (in dollars per item) of producing x items is 1.61 − 0.002x. If the cost of producing one item is $556, find the cost of producing 100 items. (Round your answer to two decimal places.)

The answer is $715.19

Explanation:

The cost of producing the first item is given as $556.

Therefore, the cost of producing 100 items or 99 additional items is roughly the same as:

Take the marginal cost of 1 item = 1.61 - 0.002(1) = 1.608.

Multiply 1.608 by 99, we get:

=> 159.192.

Adding this to the cost of producing the first item, we have:

=> 159.192 + 556

= $715.192.

Therefore, the cost of producing 100 items is approximately $715.19

answer; the coefficient of determination;

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

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