A company that produces ribbon has found that the marginal cost of producing
The total cost of manufacturing 700 yards of ribbon is approximately
(Do not round until the final answer. Then round to the nearest cent as needed.)
Final Answer: The total cost of manufacturing 700 yards of ribbon is approximately
Step 1 :The total cost of manufacturing 700 yards of ribbon can be approximated by integrating the marginal cost function over the interval [0, 700]. Since we are asked to use 5 subintervals and the left endpoint of each subinterval, we can use the Left Riemann Sum to approximate the integral.
Step 2 :The Left Riemann Sum is given by the formula:
Step 3 :Substituting the given values into the formula, we get
Step 4 :Then, we calculate the total cost by summing up the product of the marginal cost at the left endpoint of each subinterval and the width of the subinterval. The marginal cost function is given by
Step 5 :By performing the calculations, we find that the total cost of manufacturing 700 yards of ribbon is approximately 213.136000000000 dollars.
Step 6 :Rounding to the nearest cent, the total cost is approximately $213.14.
Step 7 :Final Answer: The total cost of manufacturing 700 yards of ribbon is approximately