Explanation Given: The cost function: C ( x ) = 0.02 x 3 + 7 x + 5000 Formula used: The average cost function is given by C ¯ ( x ) = C ( x ) x Calculation: The average cost function is given by, C ¯ ( x ) = C ( x ) x = 0.02 x 3 + 7 x + 5000 x = 0.02 x 2 + 7 + 5000 x Differentiate the given function C ¯ ( x ) with respect to x . Then; C ¯ ′ ( x ) = 0.02 d d x ( x 2 ) + 0 − 5000 x 2 = 0.02 ( 2 x ) − 5000 x 2 = 0

Mathematics with Applications In the Management, Natural, and Social Sciences (12th Edition)

12th Edition

ISBN: 9780134767628

Author: Margaret L. Lial, Thomas W. Hungerford, John P. Holcomb, Bernadette Mullins

Publisher: PEARSON

See similar textbooks

Concept explainers

Unitary Method

The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.

Speed, Time, and Distance

Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 …

Profit and Loss

The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.

Units and Measurements

Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experime…

Videos

Question

Chapter 12.3, Problem 4CP

To determine

To calculate: The production level that leads to the minimum average cost for the given cost function.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Chapter 12.3, Problem 3CP

Chapter 12.3, Problem 5CP

Students have asked these similar questions

12:25 AM Sun Dec 22 uestion 6- Week 8: QuX Assume that a company X + → C ezto.mheducation.com Week 8: Quiz i Saved 6 4 points Help Save & Exit Submit Assume that a company is considering purchasing a machine for $50,000 that will have a five-year useful life and a $5,000 salvage value. The machine will lower operating costs by $17,000 per year. The company's required rate of return is 15%. The net present value of this investment is closest to: Click here to view Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using the tables provided. 00:33:45 Multiple Choice О $6,984. $11,859. $22,919. ○ $9,469, Mc Graw Hill 2 100-

No chatgpt pls will upvote

7. [10 marks] Let G = (V,E) be a 3-connected graph. We prove that for every x, y, z Є V, there is a cycle in G on which x, y, and z all lie. (a) First prove that there are two internally disjoint xy-paths Po and P₁. (b) If z is on either Po or P₁, then combining Po and P₁ produces a cycle on which x, y, and z all lie. So assume that z is not on Po and not on P₁. Now prove that there are three paths Qo, Q1, and Q2 such that: ⚫each Qi starts at z; • each Qi ends at a vertex w; that is on Po or on P₁, where wo, w₁, and w₂ are distinct; the paths Qo, Q1, Q2 are disjoint from each other (except at the start vertex 2) and are disjoint from the paths Po and P₁ (except at the end vertices wo, W1, and w₂). (c) Use paths Po, P₁, Qo, Q1, and Q2 to prove that there is a cycle on which x, y, and z all lie. (To do this, notice that two of the w; must be on the same Pj.)

Chapter 12 Solutions

Mathematics with Applications In the Management, Natural, and Social Sciences (12th Edition)

Ch. 12.1 - Checkpoint 1 For what values of x is the function...Ch. 12.1 - Checkpoint 2 Find all intervals on which is...Ch. 12.1 - Checkpoint 3 Identity the x-values of all points...Ch. 12.1 - Checkpoint 4 Find the critical numbers for each of...Ch. 12.1 - Prob. 5CP Ch. 12.1 - Prob. 6CP Ch. 12.1 - Checkpoint 7 Find the locations of the local...Ch. 12.1 - Prob. 8CP Ch. 12.1 - Checkpoint 9 If a sales function is given by...Ch. 12.1 - Prob. 1E

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, subject and related others by exploring similar questions and additional content below.