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1. Your factory produces candles. You know that each unit is cheaper, the more you produce. But you also know that costs will eventually
1. Your factory produces candles. You know that each unit is cheaper, the more you produce. But you also know that costs will eventually go up if you make too many candles, due to the costs of storage of the overstock. The guy in accounting says that your cost for producing x thousands of units a day can be approximated by the formula C = 0.02x-4.5x + 450. Find the daily production level that will minimize your costs. a. (5 pts) How many units should you produce to minimize costs? b. (5 pts) What is the minimal cost? c. (5 pts) Evaluate and Explain C(10).
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