Suppose that the cost function for a product is given by C(x) = 0.002x 3 + 9x
Question:
Suppose that the cost function for a product is given by C(x) = 0.002x3 + 9x + 6912. Find the production level (i.e., value of x) that will produce the minimum average cost per unit C(x).
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 87% (16 reviews)
A product level of 120 units w...View the full answer
Answered By
HARSH RANJAN
Taken classes at college to graduates, Also worked as an expert to a freelancer online question-solving portal for more than 8 months with an average rating greater than 4.2 out of 5.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Mathematics questions
-
Suppose the demand function for a product is given by where p is in hundreds of dollars and q is the number of tons. (a) What is the elasticity of demand when the quantity demanded is 2 tons and the...
-
The production function for a product is given by q = 100KL. If the price of capital is $120 per day and the price of labor $30 per day, what is the minimum cost of producing 1000 units of output?
-
The demand function for a product is given by p = 3000e-q/3. (a) At what price per unit will the quantity demanded equal 6 units? (b) If the price is $149.40 per unit, how many units will be...
-
Some food retailers propose subjecting food to a low level of radiation in order to improve safety, but sale of such "irradiated" food is opposed by many people. Suppose a grocer wants to find out...
-
(a) What is the experiment-wise error rate? (b) Why does ANOVA solve the problem with the experiment-wise error rate created by multiple t-tests?
-
Reverend Baldasaro, a gentleman in his late 50s, is a member of both the Church of the Universe and the Marijuana Party of Canada. He regards cannabis as part of the holy sacrament. He also hopes to...
-
In Figure 10.10, the ball's instantaneous velocity \(\vec{v}\) does not point in the same direction as the displacement \(\Delta \vec{r}\) (it points above the final position of the ball). Why?...
-
Hampton Company reports the following information for its recent calendar year. Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 160,000 Expenses Cost of goods sold . . . . . . . ....
-
What piece of hardware connects a peripheral device like a keyboard or mouse to the system bus? 1 point a device driver a device controller a semaphore a network port
-
According to a study conducted by a major computer company, 59% of men and 70% of women say that weight is an extremely/very important factor in purchasing a laptop computer. Suppose this survey was...
-
Researchers have found that the radius R to which a plant will grow is affected by the number of plants N in the area, as described by the equation where D is the density of the plants in an area and...
-
In Exercise 61 in the section on Polynomial and Rational Functions, we gave the function defined by A(x) = 0.003631x 3 - 0.03746x 2 + 0.1012x + 0.009 as the approximate blood alcohol concentration in...
-
A five-year project has an initial fixed asset investment of $290,000, an initial NWC investment of $25,000, and an annual OCF of -$35,000. The fixed asset is fully depreciated over the life of the...
-
1. Explain and illustrate how might a nation's production possibilities be affected by the following? Each case independently. a. Wide-spread epidemic, like COVID pandemic. b. An increase in...
-
There are four regions of a certain country that meet at a common corner. The areas of the four regions, in square miles, are shown in the table. Region 1 71,723 (a) Mentally estimate the combined...
-
Suppose two friends go out to eat. Each individual i has utility ui obtained from slices of pizza, xi , and money, mi , given by ui(xi ,mi) = 5xi 0.5x 2 i +mi ,i = 1,2, (1) where mi is in dollars....
-
What strategies can be implemented to mitigate systemic barriers and promote inclusivity in empowerment initiatives within diverse communities ?
-
what ways do systemic barriers impede the realization of empowerment, and how can they be effectively dismantled?
-
The Grid Corporation owns a bank of boring machines. They regularly replace two machines each year. In the current year, the company sold Machine 8 for $12,000. It was purchased six years earlier for...
-
Perform the operation by first converting the numerator and denominator to scientific notation. Write the answer in scientific notation. 7,200,00/0.000009
-
Write the binomial expansion of each expression. (7k - 9j) 4
-
Write the binomial expansion of each expression.
-
Write the binomial expansion of the expression. 3 3
-
g 2 2nd The velocity v (in m/s) of a surface wave on the ocean is given by v= tanhi , where g = 9.8 m/s is the acceleration due to gravity, is the wavelength measured in meters from crest to crest,...
-
A company's auditor is questioning the appropriateness of the company's expected return on assets assumption, which is used in measuring its pension expense what is one researchable question to ask?.
-
Solve the given integral equation or integro-differential equation for y(t). t y'(t)-6 Set-vy(v) dv=3t, y(0)=3 y(t) = 0
Study smarter with the SolutionInn App