A Study of the Costs to Produce Airplanes in World $M C(x)=M M_{0} x^{\log _{2} 0.9}$

Short Answer

A study of the costs to produce airplanes in World War II led to the theory of "learning curves," the idea of which is that the marginal cost per plane decreases over the duration of a production run.In other words, with experience, staff on an assembly line can produce planes with greater efficiency.The 90% learning curve describes a typical situation where the marginal cost, MC, to produce the x^th plane is given by $M C(x)=M M_{0} x^{\log _{2} 0.9}$ , where $M_{0}$ = marginal cost to produce the first plane.[Note: You may use the fact that $\log _{2} x=\frac{\ln x}{\ln 2}$ .] Recall that marginal cost is related to total cost as follows: $M C(x)=C^{\prime}(x)$ , where C(x)= total cost to produce x units.
Given this, and the formula for MC(x)with $M_{0}$ = $500,000, find a formula for C(x).If the constant for C(x)is $20 million, what is C(50), the cost of producing 50 planes, to the nearest thousand dollars?