Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN: 9780470458365
Author: Erwin Kreyszig
Publisher: Wiley, John & Sons, Incorporated
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b. A company estimates that the cost, in dollars, of producing of items in
C(q) = 2,600+ 2q +0.001q² .
Find the cost, average cost, and marginal cost of producing 1,000 items.
At what production level will the average cost be lowest, and what is this
i.
ii.
minimum average cost?
iii.
Revenue function R(g) = 489 – 0.012q? for producing q chairs. Find the profit
function and how many chairs should be produced to earn the maximum profit.
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Transcribed Image Text:b. A company estimates that the cost, in dollars, of producing of items in C(q) = 2,600+ 2q +0.001q² . Find the cost, average cost, and marginal cost of producing 1,000 items. At what production level will the average cost be lowest, and what is this i. ii. minimum average cost? iii. Revenue function R(g) = 489 – 0.012q? for producing q chairs. Find the profit function and how many chairs should be produced to earn the maximum profit.
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