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Kindly provide a detailed solution. Thank you! 1. A producer of a certain commodity estimates that when x number of units in hundreds are produced
Kindly provide a detailed solution. Thank you!
1. A producer of a certain commodity estimates that when x number of units in hundreds are produced per week, the total cost in thousand is represented by the function G (at) = 2.5m2 503 + 400 all x units will be sold at a price of {200 - 31) pesos per unit. a.Determine the level of producon that results in maximum prot. Find the maximum prot. b.Find the level of production if the average cost per unit is minimized. AixFlclxlllx c.Find the level of production where the average cost is equal to marginal cost. 2. Jay R Machine Shop manufactures driil bits used in the Petroleum industry. The manager of the said company, through their researches, estimates that the total weekly cost in thousand of pesos pf producing x bits is represented by C [I) : 5000 + 50: 0.00132. a. Find the average cost tunction and marginal average cost function. h. Find the average cost and marginal cost as x = 15 unitsStep by Step Solution
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