Suppose that a liquid is produced by a chemical process and that the total cost function is given by C(x) = 6 + 4√x where C(x) dollars is the cost of producing x liters of the liquid.
i. Find the cost of producing 16 liters of the liquid.
ii. What is the marginal cost when 16 liters of liquid are produced?
iii. How many liters of liquid are produced when its marginal cost is $4.50?