Suppose that the cost function for a product is given by Cx

Suppose that the cost function for a product is given by C(x) = 0.002x3 + 8x + 6,244. Find the production level (i.e., value of x) that will produce the minimum average cost per unit C-(x). The production level that produces the minimum average cost per unit is . (Round to the nearest whole number as needed.)

Solution

dC/dx=0 3*0.002x^2+8=0 no value x=0 is minimum C=6244