Quantcast

A community for students. Sign up today!

Here's the question you clicked on:

55 members online
  • 0 replying
  • 0 viewing

lilfayfay

  • 2 years ago

The cost of producing x units of a certain product is given by: C=10,000 + 5x+ 1/9 x^2 Find the value of x that gives the minimum average cost

  • This Question is Closed
  1. mayankdevnani
    • 2 years ago
    Best Response
    You've already chosen the best response.
    Medals 2

    You have a cost function for x units given by: C = 10,000 + 5x + (1/9)x^2 Now, the cost per unit is going to be that same function divided by x. Let's call this function U: U = 10,000/x + 5 + (1/9)x To find the minimum total cost, you need to find the minimum of this function. Analyzing the derivatives should get you the answer you need: U' = -10,000/(x^2) + 1/9 U'' = 20,000/(x^3) http://mathforum.org/library/drmath/view/53402.html By examining U'= 0, we find that x = 300 is a critical point. Further, since U'' is positive, the function must be at a minimum at that point.

  2. lilfayfay
    • 2 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    @mayankdevnani can you help me with another problem pls? ^^

  3. lilfayfay
    • 2 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    wait how did u get U"=20,000/x^3?

  4. lilfayfay
    • 2 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    nvm

  5. Not the answer you are looking for?
    Search for more explanations.

    Search OpenStudy
    • Attachments:

Ask your own question

Ask a Question
Find more explanations on OpenStudy

Your question is ready. Sign up for free to start getting answers.

spraguer (Moderator)
5 → View Detailed Profile

is replying to Can someone tell me what button the professor is hitting...

23

  • Teamwork 19 Teammate
  • Problem Solving 19 Hero
  • You have blocked this person.
  • ✔ You're a fan Checking fan status...

Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.

This is the testimonial you wrote.
You haven't written a testimonial for Owlfred.