For the given cost function C(x) = 36100 + 800x + x², First, find the average cost function. Use it to find: a) The production level that will minimize the average cost x = b) The minimal average cost $
For the given cost function C(x) = 36100 + 800x + x², First, find the average cost function. Use it to find: a) The production level that will minimize the average cost x = b) The minimal average cost $
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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![**Cost Minimization Problem**
For the given cost function \( C(x) = 36100 + 800x + x^2 \),
First, find the **average cost** function. Use it to find:
a) The production level that will minimize the average cost
\[ x = \underline{\hspace{3cm}} \]
b) The minimal average cost
\[ \$\underline{\hspace{3cm}} \]
In this problem, you're tasked with deriving the average cost function from the total cost function and finding the production level and corresponding cost that minimizes the average cost. This involves calculus and optimization techniques.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4df0d9d6-a5af-48e8-af07-cbf992b42454%2F95c70bb9-0456-4b2b-9716-8f7c5e8c3d49%2Fhcjm60p_processed.png&w=3840&q=75)
Transcribed Image Text:**Cost Minimization Problem**
For the given cost function \( C(x) = 36100 + 800x + x^2 \),
First, find the **average cost** function. Use it to find:
a) The production level that will minimize the average cost
\[ x = \underline{\hspace{3cm}} \]
b) The minimal average cost
\[ \$\underline{\hspace{3cm}} \]
In this problem, you're tasked with deriving the average cost function from the total cost function and finding the production level and corresponding cost that minimizes the average cost. This involves calculus and optimization techniques.
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