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Assume that it costs a company approximately C(X) = 676,000 + 160x + 0.001x2 dollars to manufacture X units of a device in an hour
Assume that it costs a company approximately C(X) = 676,000 + 160x + 0.001x2 dollars to manufacture X units of a device in an hour at one of their manufacturing centers. How many devices should be manufactured each hour to minimize average cost? What is the resulting average cost of a device? $ S How does the average cost compare with the marginal cost at the optimal production level? Find how much they differ. $3
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