b. A company estimates that the cost, in dollars, of producing of items in C(q) = 2,600 + 2g + 0.00 1q² . i. Find the cost, average cost, and marginal cost of producing 1,000 items. At what production level will the average cost be lowest, and what is this ii. minimum average cost? iii. Revenue function R(q)= 48q – 0.012g for producing q chairs. Find the profit function and how many chairs should be produced to earn the maximum profit.

b. A company estimates that the cost, in dollars, of producing of items in C(q) = 2,600 + 2g + 0.00 1q² . i. Find the cost, average cost, and marginal cost of producing 1,000 items. At what production level will the average cost be lowest, and what is this ii. minimum average cost? iii. Revenue function R(q)= 48q – 0.012g for producing q chairs. Find the profit function and how many chairs should be produced to earn the maximum profit.

Algebra and Trigonometry (MindTap Course List)

4th Edition

ISBN:9781305071742

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter2: Functions

Section2.4: Average Rate Of Change Of A Function

Problem 4.2E: bThe average rate of change of the linear function f(x)=3x+5 between any two points is ________.

See similar textbooks