For the given cost function C(x)=19600+500x+x^2 find: a) The cost at the production level 1450 b) The average cost at the production level 1450 c) The marginal cost at the production level 1450 d) The production level that will minimize the average cost e) The minimal average cos

For the given cost function C(x)=19600+500x+x^2 find: a) The cost at the production level 1450 b) The average cost at the production level 1450 c) The marginal cost at the production level 1450 d) The production level that will minimize the average cost e) The minimal average cos

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter3: Functions

Section3.3: Rates Of Change And Behavior Of Graphs

Problem 3SE: How are the absolute maximum and minimum similar to and different from the local extrema?

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Question

For the given cost function
C(x)=19600+500x+x^2

find:
a) The cost at the production level 1450
b) The average cost at the production level 1450
c) The marginal cost at the production level 1450
d) The production level that will minimize the average cost
e) The minimal average cost

Expert Solution