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satellite73 Group TitleBest ResponseYou've already chosen the best response.0
minimum is at the vertex compute \(\frac{b}{2a}\) with \(b=700,a=1\)
 10 months ago

satellite73 Group TitleBest ResponseYou've already chosen the best response.0
oh, i see you did that. hmmmm
 10 months ago

satellite73 Group TitleBest ResponseYou've already chosen the best response.0
weird i guess to minimize the cost, produce nothing
 10 months ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
i understood part d.... it's 280
 10 months ago

satellite73 Group TitleBest ResponseYou've already chosen the best response.0
you found the vertex correctly, but you can't produce 350 items
 10 months ago

satellite73 Group TitleBest ResponseYou've already chosen the best response.0
where on earth did the 280 come from?
 10 months ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
That's the production level that will minimize the average cost
 10 months ago

satellite73 Group TitleBest ResponseYou've already chosen the best response.0
oh, i guess i have no idea what an average cost is
 10 months ago

DebbieG Group TitleBest ResponseYou've already chosen the best response.1
YOu have cost, to find average cost divide that by x. THEN take the derivative, that is marginal average cost. Minimize THAT.
 10 months ago

satellite73 Group TitleBest ResponseYou've already chosen the best response.0
oooooh!
 10 months ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
i did c(X)/x, differentiated, then set it to zero. and got x=280
 10 months ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
how @DebbieG
 10 months ago

satellite73 Group TitleBest ResponseYou've already chosen the best response.0
why is that an "average cost"?
 10 months ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
The minimal average cost?
 10 months ago

DebbieG Group TitleBest ResponseYou've already chosen the best response.1
Because C(x) gives the total cost of producing x items. So C(x)/x gives the average cost per item, at the production level x.
 10 months ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
okaay but let's find part e please.
 10 months ago

satellite73 Group TitleBest ResponseYou've already chosen the best response.0
learn something new every day
 10 months ago

DebbieG Group TitleBest ResponseYou've already chosen the best response.1
Sorry  I didn't mean to minimize the derivative... lol... I meant to minimize the average cost. Which you can do by setting the derivative of it =0. :)
 10 months ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
that's my main concern...
 10 months ago

DebbieG Group TitleBest ResponseYou've already chosen the best response.1
So you have average cost: A(x)=78400/x+700+x Take that derivative, set it = 0, and that's where your average cost is minimized.
 10 months ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
i did
 10 months ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
x=280
 10 months ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
i don't understand
 10 months ago

DebbieG Group TitleBest ResponseYou've already chosen the best response.1
OK, you good for e now?
 10 months ago

DebbieG Group TitleBest ResponseYou've already chosen the best response.1
Sorry  don't understand what?
 10 months ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
but it's wrong.
 10 months ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
d) The production level that will minimize the average cost = 280. which is correct. e) The minimal average cost= ???
 10 months ago

DebbieG Group TitleBest ResponseYou've already chosen the best response.1
What did you get?
 10 months ago

DebbieG Group TitleBest ResponseYou've already chosen the best response.1
Just evaluate the average cost function at x=280
 10 months ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
so plug x into ?
 10 months ago

DebbieG Group TitleBest ResponseYou've already chosen the best response.1
The average cost function: A(x)=78400/x+700+x which is just C(x)/x
 10 months ago

DebbieG Group TitleBest ResponseYou've already chosen the best response.1
what did you get? :)
 10 months ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
right.280!
 10 months ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
well 78400/x^2+1...
 10 months ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
then set it to zero right? @DebbieG
 10 months ago

DebbieG Group TitleBest ResponseYou've already chosen the best response.1
wha? no.... you found the production level that minimizes average cost already, by setting the derivative of average cost = 0, right? Now you just need to know what that average cost is  what is the average cost at that production level of x=280 So PLUG x=280 INTO the average cost function.
 10 months ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
oooooooo
 10 months ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
how about if i want to find the production level that will maximize profit.
 10 months ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
@DebbieG
 10 months ago

DebbieG Group TitleBest ResponseYou've already chosen the best response.1
Then you need the profit function. Then find where it is maximized, by taking its derivative and set it = 0.
 10 months ago
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