Concept explainers
To find the production level that will minimize the average cost of make
Answer to Problem 62E
The production level that minimizes the average cost is at
Explanation of Solution
Given information: Given equation is
Calculation:
The average cost is,
The average cost is minimum or maximum at
Also,
It shows that
Thus, production level that minimizes the average cost is at
Chapter 5 Solutions
Calculus: Graphical, Numerical, Algebraic: Solutions Manual
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