2 For the given cost function C(x) = 12100 + 700x + x", First, find the average cost function, defined by C(x) C (x) Use it to find: a) The production level that will minimize the average cost x = b) The minimal average cost
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- How are the absolute maximum and minimum similar to and different from the local extrema?For the given cost function C(x)=10000+700x+x2C(x)=10000+700x+x2,First, find the average cost function. Use it to find:a) The production level that will minimize the average costxx = b) The minimal average costIf the total cost for a lamp is C(x)=250+33x+0.1x^2 dollars, producing how many units, x, will result in a minimum average cost per unit? Also compute the minimum average cost
- Find number of units X that produces the minimum average cost unit C in given equation. C= 0.001x3 +7x+2Give the cost function C=10x + 1,000/x , find the number of unit x to get the minimum cost.A rectangular box is to have a square base and a volume of 81 ft3. If the material for the base costs $0.29/ft2, the material for the sides costs $0.09/ft2, and the material for the top costs $0.25/ft2, determine the dimensions (in ft) of the box that can be constructed at minimum cost. X= Y=
- Find the break-even point for the firm whose cost function C and revenue function R are given. C(x) = 14x + 27,000; R(x) = 23x (x,y)=( , )Suppose the cost function is given by C (x) =2e3x. Find the x-value which minimizes the average cost.Suppose the cost function is given by C(x)=2e3x. Find the x-value which minimizes the average cost.
- A worker is to construct an open rectangular box with a square base and a volume of 147 ft3. If material for the bottom costs $6/ft2 and material for the sides costs $7/ft2 what dimensions will result in the least expensive box? What is the minimum cost? Let x be the length of one side of the base of the box. Express the total cost of the materials, C, in terms of x.The total cost of producing a type of car is given by C(x)=23000−30x+0.04x2, where x is the number of cars produced. How many cars should be produced to incur minimum cost?The price-demand and cost functions for the production of microwaves are given as