he cost function for the manufacture of x number of goods by a company is C(x) = . Find the level of output at which marginal cost is minimum. Further, if the selling price of a unit is , find the average profit

he cost function for the manufacture of x number of goods by a company is C(x) = . Find the level of output at which marginal cost is minimum. Further, if the selling price of a unit is , find the average profit

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

The cost function for the manufacture of x number of goods by a company is C(x) = . Find the level of output at which marginal cost is minimum. Further, if the selling price of a unit is , find the average profit.

Expression, rule, or law that gives the relationship between an independent variable and dependent variable. Some important types of functions are injective function, surjective function, polynomial function, and inverse function.

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