Question

How do you solve the question in the attached image?

Consider the following.
C = x3 – 6x2 + 16x
Use the cost function to find the production level at which the average cost is a minimum.
For this production level, show that the marginal cost and average cost are equal.
marginal cost
average cost
Use a graphing utility to graph the average cost function and verify your results.
У
30
30
25
25-
20
20아
15
15
10
10
4
3
y
30
30
25
25
20
15
15
10
10
5
х
х
2
3
4
3
4
20
expand button
Transcribed Image Text:Consider the following. C = x3 – 6x2 + 16x Use the cost function to find the production level at which the average cost is a minimum. For this production level, show that the marginal cost and average cost are equal. marginal cost average cost Use a graphing utility to graph the average cost function and verify your results. У 30 30 25 25- 20 20아 15 15 10 10 4 3 y 30 30 25 25 20 15 15 10 10 5 х х 2 3 4 3 4 20
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