Suppose the Total Cost Function for Manufacturing a Certain Product

question 32

Short Answer

Suppose the total cost function for manufacturing a certain product is dollars, where represents the number of units produced. Find the level of production that will minimize the average cost. Round the answer to the nearest integer.
​__________ units

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Definitions:

Cash Flows

Pertains to the total sum of cash and cash-equivalents moving in and out of a business.

Annual Percentage Rate

The cost of borrowing or the yield from an investment, expressed as a single percentage number that represents the yearly cost over the term of a loan or income from an investment.

Interest Rate

The payment, specified as a percentage of the principal, necessitated by a lender from a borrower for employing assets.

Required By Law

Mandated actions or procedures as stipulated by legislation or legal statutes.