Assume that it costs a manufacturer approximately C(x) = 1,104,500 + 340x + 0.0005x2 dollars to manufacture x gaming systems in an hour. How many gaming systems should be manufactured each hour to minimize average cost? __________ gaming systems per hour What is the resulting average cost of a gaming system? $ ____________ If fewer than the optimal number are manufactured per hour, will the marginal cost be larger, smaller, or equal to the average cost at that lower production level? Pick one of the following options. The marginal cost will be larger than average cost. The marginal cost will be smaller than average cost. The marginal cost will be equal to average cost.
Assume that it costs a manufacturer approximately C(x) = 1,104,500 + 340x + 0.0005x2 dollars to manufacture x gaming systems in an hour. How many gaming systems should be manufactured each hour to minimize average cost? __________ gaming systems per hour What is the resulting average cost of a gaming system? $ ____________ If fewer than the optimal number are manufactured per hour, will the marginal cost be larger, smaller, or equal to the average cost at that lower production level? Pick one of the following options. The marginal cost will be larger than average cost. The marginal cost will be smaller than average cost. The marginal cost will be equal to average cost.
Chapter4: Systems Of Linear Equations
Section4.3: Solve Mixture Applications With Systems Of Equations
Problem 158E: The manufacturer of an energy drink spends $1.20 to make each drink and sells them for $2. The...
Related questions
Topic Video
Question
Assume that it costs a manufacturer approximately
C(x) = 1,104,500 + 340x + 0.0005x2
dollars to manufacture x gaming systems in an hour. How many gaming systems should be manufactured each hour to minimize average cost?
__________ gaming systems per hour
What is the resulting average cost of a gaming system?
$ ____________
If fewer than the optimal number are manufactured per hour, will the marginal cost be larger, smaller, or equal to the average cost at that lower production level?
Pick one of the following options.
The marginal cost will be larger than average cost.
The marginal cost will be smaller than average cost.
The marginal cost will be equal to average cost.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 6 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, advanced-math and related others by exploring similar questions and additional content below.Recommended textbooks for you
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning