Math Snap
PROBLEM
A company determined that the marginal cost, of producing the th unit of a product is given by . Find the total cost function , assuming that is in dollars and that fixed costs are \(\) 8000$.
STEP 1
1. The marginal cost function is given by .
2. The fixed cost is $8000.
3. We need to find the total cost function .
STEP 2
1. Integrate the marginal cost function to find the total cost function .
2. Determine the constant of integration using the fixed cost information.
3. Write the complete expression for the total cost function .
STEP 3
Integrate the marginal cost function to find :
STEP 4
Perform the integration:
where is the constant of integration.
STEP 5
Use the fixed cost information to determine the constant of integration. Given that the fixed cost is $8000, we have:
Substitute into the total cost function:
SOLUTION
Substitute back into the expression for :
The total cost function is:
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