Explanation Given information: The functionis C ( x ) = 3 x 2 + x + 48 . Calculation: Consider the function. C ( x ) = 3 x 2 + x + 48 ....... (1) The average profit function is, A ( x ) = C ( x ) x = 3 x 2 + x + 48 x = 3 x + 1 + 48 x ....... (2) Differentiate Equation (1) for the marginal cost. C ′ ( x ) = 6 x + 1 The average cost is minimized when the marginal cost is equal to the average cost

7th Edition

ISBN: 9781524916817

Author: SMITH KARL J, STRAUSS MONTY J, TODA MAGDALENA DANIELE

Publisher: Kendall Hunt Publishing

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Chapter 4.7, Problem 13PS

To determine

To find:The minimum average cost.

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Chapter 4.7, Problem 12PS

Chapter 4.7, Problem 14PS

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Chapter 4 Solutions

Calculus

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The minimum average cost.

Solution Summary: The author explains that the minimum average cost is 25.

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