The cost of producing x units of a product is modeled by Find the minimum average cost analytically.Round your answer to two decimal places.
A) 400.00 dollars per unit
B) 381.19 dollars per unit
C) 374.43 dollars per unit
D) 376.66 dollars per unit
E) 374.53 dollars per unit

Question

The cost of producing x units of a product is modeled by  Find the minimum average cost analytically.Round your answer to two decimal places. ​
A) ​400.00 dollars per unit 
B) ​381.19 dollars per unit 
C) 374.43​ dollars per unit 
D) 376.66​ dollars per unit 
E) ​374.53 dollars per unit

Quizplus · Accepted Answer

To find the minimum average cost, we need to find the minimum value of the given function:

11ea8970_6a5b_e0e1_861b_8937b9698639_TB1301_12

We can find the minimum using differentiation:

11ea8970_6a5b_e0e1_861b_8937b9698639_TB1301_13

Setting this equal to 0:

11ea8970_6a5b_e0e1_861b_8937b9698639_TB1301_14

Solving for x:

11ea8970_6a5b_e0e1_861b_8937b9698639_TB1301_15

Substituting this value of x back into the original function:

11ea8970_6a5b_e0e1_861b_8937b9698639_TB1301_16

Rounding to two decimal places:

374.43
Hence, the minimum average cost is $374.43 per unit.

The Cost of Producing X Units of a Product Is