Undergraduate

Consider a cost function C ( t ) given by C ( x ) = 1 0 , 0 0 0 + 2 0 x

Consider a cost function C(t) given by
C(x)=10,000+20x.
Calculate the marginal average cost when 2=500, use the result to approximate the total cost when 2=501, and
calculate the percentage error between this estimate and the actual cost when x =501. Give your answer as a percentage
t04 decimal places. Do not include the percent symbol in your answer.

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