The cost in dollars of producing alarm clocks is given by C(x) = 50x³ – 750x²+ 3740x +3750, where x is in units of 1000. (a) Calculate the average cost at x = 4, 6, 8, and 10. (b) Use the graphical interpretation of average cost to find the produc- tion level xo at which average cost is lowest. What is the relation between average cost and marginal cost at xo (see Figure 16)? C (S) 15,000 - 10,000 - 5000 1 2 3 4 5 6 7 8 9 10 FIGURE 16 Cost function C(x) = 50x³ – 750x² + 3740x + 3750.
The cost in dollars of producing alarm clocks is given by C(x) = 50x³ – 750x²+ 3740x +3750, where x is in units of 1000. (a) Calculate the average cost at x = 4, 6, 8, and 10. (b) Use the graphical interpretation of average cost to find the produc- tion level xo at which average cost is lowest. What is the relation between average cost and marginal cost at xo (see Figure 16)? C (S) 15,000 - 10,000 - 5000 1 2 3 4 5 6 7 8 9 10 FIGURE 16 Cost function C(x) = 50x³ – 750x² + 3740x + 3750.
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter7: Analytic Trigonometry
Section7.6: The Inverse Trigonometric Functions
Problem 93E
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Transcribed Image Text:The cost in dollars of producing alarm clocks is given by
C(x) = 50x³ – 750x²+ 3740x +3750,
where x is in units of 1000.
(a) Calculate the average cost at x = 4, 6, 8, and 10.
(b) Use the graphical interpretation of average cost to find the produc-
tion level xo at which average cost is lowest. What is the relation between
average cost and marginal cost at xo (see Figure 16)?
C (S)
15,000 -
10,000 -
5000
1 2 3 4 5 6 7 8 9 10
FIGURE 16 Cost function C(x) = 50x³ – 750x² + 3740x + 3750.
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