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The cost in dollars of producing alarm clocks is given by C(x) = 50x³ – 750x²+ 3740x +3750, where x is in units of 1000. (a) Calculate the average cost at x = 4, 6, 8, and 10. (b) Use the graphical interpretation of average cost to find the produc- tion level xo at which average cost is lowest. What is the relation between average cost and marginal cost at xo (see Figure 16)? C (S) 15,000 - 10,000 - 5000 1 2 3 4 5 6 7 8 9 10 FIGURE 16 Cost function C(x) = 50x³ – 750x² + 3740x + 3750.

The cost in dollars of producing alarm clocks is given by C(x) = 50x³ – 750x²+ 3740x +3750, where x is in units of 1000. (a) Calculate the average cost at x = 4, 6, 8, and 10. (b) Use the graphical interpretation of average cost to find the produc- tion level xo at which average cost is lowest. What is the relation between average cost and marginal cost at xo (see Figure 16)? C (S) 15,000 - 10,000 - 5000 1 2 3 4 5 6 7 8 9 10 FIGURE 16 Cost function C(x) = 50x³ – 750x² + 3740x + 3750.

Calculus: Early Transcendentals
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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The cost in dollars of producing alarm clocks is given by C(x) = 50x³ – 750x²+ 3740x +3750, where x is in units of 1000. (a) Calculate the average cost at x = 4, 6, 8, and 10. (b) Use the graphical interpretation of average cost to find the produc- tion level xo at which average cost is lowest. What is the relation between average cost and marginal cost at xo (see Figure 16)? C (S) 15,000 - 10,000 - 5000 1 2 3 4 5 6 7 8 9 10 FIGURE 16 Cost function C(x) = 50x³ – 750x² + 3740x + 3750.
Transcribed Image Text:The cost in dollars of producing alarm clocks is given by C(x) = 50x³ – 750x²+ 3740x +3750, where x is in units of 1000. (a) Calculate the average cost at x = 4, 6, 8, and 10. (b) Use the graphical interpretation of average cost to find the produc- tion level xo at which average cost is lowest. What is the relation between average cost and marginal cost at xo (see Figure 16)? C (S) 15,000 - 10,000 - 5000 1 2 3 4 5 6 7 8 9 10 FIGURE 16 Cost function C(x) = 50x³ – 750x² + 3740x + 3750.
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