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It costs a firm C(q) dollars to produce a grams per day of a certain chemical, where C(q) = 2q3 + 32 + 200 The
It costs a firm C(q) dollars to produce a grams per day of a certain chemical, where C(q) = 2q3 + 32 + 200 The firm can sell any amount of the chemical at $4 a gram. Find the break-even point of the firm, that is, how much it should produce per day in order to have neither a profit nor a loss. Use the Newton-Raphson method with initial guess as qo - 250 and give the answer to the nearest gram. 1.1. Calculate successive approximations for the break-even point connect to 6 decimal places and also find absolute error points in each iteration. 1.2. Illustrate the results of the computation through a plot and mark the root of the equation on this plot. It costs a firm C(q) dollars to produce a grams per day of a certain chemical, where C(q) = 2q3 + 32 + 200 The firm can sell any amount of the chemical at $4 a gram. Find the break-even point of the firm, that is, how much it should produce per day in order to have neither a profit nor a loss. Use the Newton-Raphson method with initial guess as qo - 250 and give the answer to the nearest gram. 1.1. Calculate successive approximations for the break-even point connect to 6 decimal places and also find absolute error points in each iteration. 1.2. Illustrate the results of the computation through a plot and mark the root of the equation on this plot
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