If the Total Cost for Producing X Units of a Particular

question 165

Essay

If the total cost for producing x units of a particular product is given by C(x), then the average cost of production those x units is given by $A ( x ) = \frac { C ( x ) } { x }$ (a) If our cost function is $C ( x ) = 15,000 + 100 x + 2 r ^ { 3 / 2 }$ , what value of x will result in the minimum average cost?
(b) What is the minimum average cost?

---

Definitions:

Geographic Boundaries

Physical or conceptual limits that define areas such as countries, states, cities, or territories for administrative, commercial, or political purposes.

Evaluate Performance

The process of systematically assessing the work and results of an individual, team, or organization to determine effectiveness and identify areas for improvement.

Gross Profit Percentage

A financial indicator that calculates the percentage of income remaining from sales after subtracting the cost of goods sold.

Fixed Costs

Expenses that do not change with the level of goods or services produced by a business, such as rent or salaries.