Suppose the monthly cost of maintaining a certain machine in operating order is a function of the

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Suppose the monthly cost of maintaining a certain machine in operating order is a function of the time elapsed between shutdowns for servicing and maintenance as follows: C = 1,400 — 307" + 0.7T2 where C represents cost in dollars and T represents time between services in hours. What is the optimal period between services?

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Managerial Economics

ISBN: 9780135509302

3rd Edition

Authors: Evan J. Douglas

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