Answered step by step
Verified Expert Solution
Question
1 Approved Answer
How do you specifically calclute the x values for part 6? I have 0.0006x^2-0.4x+15=0, but I am not sure how to calaculate the x values?
How do you specifically calclute the x values for part 6? I have 0.0006x^2-0.4x+15=0, but I am not sure how to calaculate the x values? Part 2: Cost Given that the cost function for manufacturing the chairs is C(x) = 0.0002x -0.2x +15x +50,000 where x is number of chairs and C(x) is price in dollars. 1. Find the marginal cost function, C'(x) 2. Find and interpret the marginal cost for x 700 units 3. Find the average cost function, C(x) 4. Find the marginal average cost function, T'(x) 5. Find and interpret the marginal average cost for x = 700 units 6. Use the 1st derivative test to determine when the cost function is increasing and decreasing. Then, how many chairs (x) need to be produced in order to minimize the cost of production? What is the minimum cost? (Hint: use the quadratic formula AND round to 2 decimal places)
How do you specifically calclute the x values for part 6? I have 0.0006x^2-0.4x+15=0, but I am not sure how to calaculate the x values?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started