5. Consider the cost function, C(x) = 25000 + 100x + 0.1x² where C is given in dollars. The average cost is given by c(x) = C(x) x a. Find the cost, average cost, and marginal cost at a production level of 100 units. b. Find the production level that will minimize the average cost. c. Find the minimum average cost.

Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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5. Consider the cost function, C(x) = 25000 + 100x + 0.1x²
where C is given in dollars. The average cost is given by c(x) =
C(x)
X
a. Find the cost, average cost, and marginal cost at a
production level of 100 units.
b. Find the production level that will minimize the average
cost.
c. Find the minimum average cost.
Transcribed Image Text:5. Consider the cost function, C(x) = 25000 + 100x + 0.1x² where C is given in dollars. The average cost is given by c(x) = C(x) X a. Find the cost, average cost, and marginal cost at a production level of 100 units. b. Find the production level that will minimize the average cost. c. Find the minimum average cost.
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