Question: For a given company the cost function is given by C ( x ) = 2 x + 2 8 0 0 x + 1

For a given company the cost function is given by

C (x) = 2 x + \frac{2800}{x} + 12

thousand dollars

where

x

is in thousands of units produced.

In completing the problems use calculus techniques to support your solutions to receive full credit, including the first or second derivative test. A graphing calculator can be used as a check, however please show the calculus steps to receive any credit.

Answer the following

(

round answers to three decimal places where applicable and include units

) .

Determine the number of units that must be produced to minimize costs.

What is the minimum cost?

For a given company the cost function is given by

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