WebNov 13, 2006 · #1 A company estimates that the cost in dollars of producing x units of a certain product is given by the model C = 800 + 0.4x + 0.02x^2 + 0.0001x^3 Find the production level that minimizes the average cost per unit. I first divided the equation by X in order to get _ C = C/x = .0001x^2 + .02x +.4 + 800/x WebIf C (x) = 16000 + 200x + 4x^3/2, in dollars, find (i) the cost, average cost, and marginal cost at a production level of 1000 units; (ii) the production level that will minimize the average cost; and (iii) the minimum average cost. Solutions Verified Solution A Solution B Solution C Answered 6 months ago Create an account to view solutions

Average Costs and Curves Microeconomics - Lumen Learning

WebNov 5, 2014 · Minimizing Average Cost WebNov 7, 2007 · Find the minimal average cost. OK, so average cost should be Cavg (x)=600/x + (100 - 100*ln x)/x Taking the derivative of that: Cavg' (x)=-600/x^2 + 100/x^3 Set the … エスペラント語とは

Optimization Problems: Applications to Economics - Problem 3

WebFind the minimal average cost. (The average cost is the total cost divided by the number of units produced.) Solution. By definition, the average cost is written in the form Take the derivative and set it equal to zero to find the critical points: By the First Derivative Test, we identify that this point is a point of minimum. WebSep 28, 2024 · If your IT employee was earning $60,000 per year, it will cost about $30,000 to $45,000 to recruit a replacement and get them trained. For more educated and senior-level positions, that percentage is even higher. Then, you also have to account for the lag time during which the new employee gets fully up to speed, which can take up to two years. WebThe fixed cost is $50000, and the cost to make each unit is $500 The fixed cost is $25000, and the variable cost is $200 q^2 q2. Finding & Minimizing the Average Cost Given the … panel shop program