The cost of producing x units of a product is modeled by the following. C = 120 + 45x − 170 ln(x), x ≥ 1 (a) Find the average cost function C. C = (b) Find the minimum average cost analytically. Use a graphing utility to confirm your result. (Round your answer to two decimal places.)
The cost of producing x units of a product is modeled by the following. C = 120 + 45x − 170 ln(x), x ≥ 1 (a) Find the average cost function C. C = (b) Find the minimum average cost analytically. Use a graphing utility to confirm your result. (Round your answer to two decimal places.)
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
Related questions
Question
The cost of producing x units of a product is modeled by the following.
C = 120 + 45x − 170 ln(x), x ≥ 1
(a)
Find the average cost function C.
C =
(b)
Find the minimum average cost analytically. Use a graphing utility to confirm your result. (Round your answer to two decimal places.)
Expert Solution
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Step 1
We have given that the cost of producing units of product is modeled by the following,
We need to find average cost function and minimum average cost.
Step by step
Solved in 2 steps with 1 images
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