5. Outdoors Inc. produces handmade wooden kayaks. The owner, who is also the only employee, has determined that C(x) = 5.125x 2 + 2x + 1500 models the total costs of making x number of kayaks. The price is modeled by p(x) = 1750 – 20x . a) What number of kayaks will minimize the average cost? b) What number of kayaks will maximize profit?

5. Outdoors Inc. produces handmade wooden kayaks. The owner, who is also the only employee, has determined that C(x) = 5.125x 2 + 2x + 1500 models the total costs of making x number of kayaks. The price is modeled by p(x) = 1750 – 20x . a) What number of kayaks will minimize the average cost? b) What number of kayaks will maximize profit?

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter7: Proudction Costs

Section: Chapter Questions

Problem 6SQ

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