Got Homework?
Connect with other students for help. It's a free community.
Here's the question you clicked on:
 0 viewing

This Question is Closed

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

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

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

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

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

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

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

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

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

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

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

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

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

satellite73 Group TitleBest ResponseYou've already chosen the best response.0
learn something new every day
 one year 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. :)
 one year ago

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

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

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

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

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

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

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
but it's wrong.
 one year 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= ???
 one year ago

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

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

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

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

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

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

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

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
oooooooo
 one year 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.
 one year ago

mathcalculus Group TitleBest ResponseYou've already chosen the best response.0
@DebbieG
 one year 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.
 one year ago
See more questions >>>
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
 Engagement 19 Mad Hatter
 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.