Question
You are the manager of Calculators -plus, a calculator manufacturing company. The cost function for your T1 model calculators is C (x) = 0.3 x2
You are the manager of Calculators -plus, a calculator manufacturing company. The cost function for your T1 model calculators is C (x) = 0.3 x2 + 23 x + 8000
dollars per week, where x is the number of calculators you make per week, up to a maximum of 4,900 calculators per week. How many calculators should you make to minimize the average cost? a) Determine the objective function (in terms of x): Average cost = ______
b) The derivative of the objective function is equal to ________
c) Stationary point at: x = __________ (Exact to 2 decimal places)
d) Therefore you must make ______ calculators per week to get a minimum average cost of $ _______ by calculator
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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