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If the cost of a manufacturer c(x) dollars to produce x items then his average cost of production isc(x)/x dollars per item.Typically the average cost
If the cost of a manufacturer c(x) dollars to produce x items then his average cost of production isc(x)/x dollars per item.Typically the average cost of production is a decreasing function of x for small x and an increasing function of x for large x(why).Show that the value of x that minimizes the average cost equal to the marginal cost?(BUSINESS MATHEMATICS)
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