Minimizing Production Costs The total monthly cost (in dollars) incurred by Cannon Precision Instruments for manufacturing x units of the model M1 digital camera is given by the following function. C(x) = 0.0025x² + 30x + 10,000 (a) Find the average cost function C. C(x) = (b) Find the level of production that results in the smallest average production cost. units (c) Find the level of production for which the average cost is equal to the marginal cost. units (d) Compare the result of part (c) with that of part (b). The number of units resulting in the smallest average production cost is less than the number of units for which the average cost is equal to the marginal cost. The number of units resulting in the smallest average production cost is equal to the number of units for which the average cost is equal to the marginal cost. The number of units resulting in the smallest average production cost is greater than the number of units for which the average cost is equal to the marginal cost.

Minimizing Production Costs The total monthly cost (in dollars) incurred by Cannon Precision Instruments for manufacturing x units of the model M1 digital camera is given by the following function. C(x) = 0.0025x² + 30x + 10,000 (a) Find the average cost function C. C(x) = (b) Find the level of production that results in the smallest average production cost. units (c) Find the level of production for which the average cost is equal to the marginal cost. units (d) Compare the result of part (c) with that of part (b). The number of units resulting in the smallest average production cost is less than the number of units for which the average cost is equal to the marginal cost. The number of units resulting in the smallest average production cost is equal to the number of units for which the average cost is equal to the marginal cost. The number of units resulting in the smallest average production cost is greater than the number of units for which the average cost is equal to the marginal cost.

Calculus For The Life Sciences

2nd Edition

ISBN:9780321964038

Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.

Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.

Chapter6: Applications Of The Derivative

Section6.4: Related Rates

Problem 34E

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