Question
A company has found that a relationship between total cost, C(x), and the number of items produced is given by the equation C(x)=2500+200x+x^2. A) Determine
A company has found that a relationship between total cost, C(x), and the number of items produced is given by the equation C(x)=2500+200x+x^2.
A) Determine the equation for C(x), the average cost, as a function of x.
B)What is the average cost if the company produces 25 items?
C) What number of items should be produced if the company desires to have the minimum average cost?
D) What is the minimum average cost?
E) Determine for the equation Marginal Cost, the marginal cost, as a function of X.
F) What is the marginal cost when the company is producing 25 units?
G) What is the marginal cost when the company is producing at the level which minimizes average cost?
H) The minimum average cost occurs when ________________________?
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