Solve the Problem $C$ , in Dollars, of Operating the Store Is Approximately Given

question 509

Multiple Choice

Solve the problem.
-The owner of a video store has determined that the cost $C$ , in dollars, of operating the store is approximately given by $C ( x ) = 2 x ^ { 2 } - 26 x + 640$ , where $x$ is the number of videos rented daily. Find the lowest cost to the nearest dollar.

• A) \(\$ 556\)
• B) \(\$ 302\)
• C) \(\$ 471\)
• D) \(\$ 725\)

Understand Freud's structural model of the human mind.

Comprehend the principles of social cognitive theory.

Recognize the humanistic perspective on self and identity.

Grasp the foundational concepts of learning theories in behavior.

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Definitions:

Economic Profits

The excess of total revenue over total costs, including both implicit and explicit costs.

Implicit Costs

Costs that represent the opportunity cost of using resources that are not directly paid for, such as the owner’s time or the use of assets owned by the firm.

Explicit Costs

Direct, out-of-pocket payments for resources or services used in the production process.

Accounting Profits

Represents the difference between total revenue and explicit costs of a firm.