Minimizing Average Cost The total monthly cost (in dollars) incurred by a certain guitar manufacturer in manufacturing x units of its Professional Series guitars is given by the function Clx) = 0.001x2 + 70x + 12250. (a) Find the average cost function C. (b) Determine the production level that will result in the smallest average production cost.

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter4: Polynomial And Rational Functions
Section4.1: Quadratic Functions
Problem 78E
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Minimizing Average Cost The total monthly cost (in dollars) incurred by a certain guitar manufacturer in manufacturing x units of its Professional Series guitars is given by the function
Clx) = 0.001x2 + 70x + 12250.
(a) Find the average cost function C.
(b) Determine the production level that will result in the smallest average production cost.
Transcribed Image Text:Minimizing Average Cost The total monthly cost (in dollars) incurred by a certain guitar manufacturer in manufacturing x units of its Professional Series guitars is given by the function Clx) = 0.001x2 + 70x + 12250. (a) Find the average cost function C. (b) Determine the production level that will result in the smallest average production cost.
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