Question

In: Math

The cost of producing x units of a product is given by C(x)=700 + 90 x...

The cost of producing x units of a product is given by C(x)=700 + 90 x - 90 ln(x), where x>=1

Find the minimum average cost

Solutions

Expert Solution


Related Solutions

1.) The cost of producing x units of a product is modeled by C(x) = 180+90x-260lnx...
1.) The cost of producing x units of a product is modeled by C(x) = 180+90x-260lnx where x is greater than and equal to 1 a. Find the average cost function b. Find the minimum average cost 2.) A fungus is increasing at a continuous rate of 5.2% in accordance with the exponential growth model. Find its double time
A toy manufacturer's cost for producing q units of a game is given by C(q) =...
A toy manufacturer's cost for producing q units of a game is given by C(q) = 1460 + 3.5q + 0.0006q2. If the demand for the game is given by p = 8.6 − (1/440)q. How many games should be produced to maximize profit? (Round your answer to the nearest integer.)
The​ cost, in​ dollars, of producing x belts is given by C(x)=822 + 14x - 0.075x2....
The​ cost, in​ dollars, of producing x belts is given by C(x)=822 + 14x - 0.075x2. Find the rate at which average cost is changing when 256 belts have been produced. When 256 belts have been produced, the average cost is changing at _____, dollars per belt or belt per dollars(choose one please) for each additonal belt.
The Supply (Private Marginal Cost) of producing product X is given by Qs = 10P and...
The Supply (Private Marginal Cost) of producing product X is given by Qs = 10P and the demand (Social Marginal Benefit/Private Marginal Benefit) is given by Qd = 2400 - 20P. Further, it has been determined that MEC = 30. Show enough work so that I can follow it. a. Find the market (unregulated) price and quantity. b. Determine the consumer, producer, and total surplus at the market equilibrium. c. Determine the social optimum quantity d. Determine the dead-weight loss...
Blossom Inc. is a wholesaler of electronics. It purchased 1300 units of Product X for $700...
Blossom Inc. is a wholesaler of electronics. It purchased 1300 units of Product X for $700 each during 2022. The selling price during the year was $900 per unit. At year end, it had 200 units on hand and due to changes in technology, the selling price will have to be reduced by 35% in order to sell them. The value of each unit of Product X for the year-end inventory presentation should be a) $315. b) $700. c) $585....
1) The marginal cost function associated with producing x widgets is given by C'(x)= -0.8x+75 where...
1) The marginal cost function associated with producing x widgets is given by C'(x)= -0.8x+75 where C'(x) is measured in dollars/unit and x denotes the number of widgets. Find the total cost C(x) incurred from producing the 11th through 05th units of the day. The options are: 2040 2030 2020 2000 2050 a) The Math Club has determined that in order to successfully tutor x Math 2 students in preparation for the second homework, the price per student p(x) in...
The cost of producing x records is C(x) = 20x + 450. If the revenue generated...
The cost of producing x records is C(x) = 20x + 450. If the revenue generated from sales is R(x) = 35x, then determine the break-even value. a.1150 units b. 30 units c. 20.75 units d. 8 units
A competitive firm’s cost of producing q units of output is C =18 + 4q...
A competitive firm’s cost of producing q units of output is C = 18 + 4q + q2. Its corresponding marginal cost is MC = 2q + 4. a. The firm faces a market price p = $24. Create a spreadsheet with q = 0, 1, 2, . . ., 15, where the columns are q, R, C, VC, AVC, MC, and profit. Determine the profit-maximizing output for the firm and the corresponding profit. Should the firm produce this level...
A firm's total cost of producing Q units of output is C (Q) = 79 +...
A firm's total cost of producing Q units of output is C (Q) = 79 + 20Q. The inverse demand curve for the firm's product is P(Q) = 100-Q, where P denotes the price of the product. a) If the price of the product is set equal to the firm's marginal cost, what profit will the firm earn? b) If the firm charges a two-part tariff (a fixed fee plus a per unit price), how large is the fixed fee?...
A firm's total cost of producing Q units of output is C (Q) = 200 +...
A firm's total cost of producing Q units of output is C (Q) = 200 + 50Q. The inverse demand curve for the firm's product is P(Q) = 80-Q, where P denotes the price of the product. a) If the price of the product is set equal to the firm's average, how much will the firm produce? (5 points) Hint: choose the larger of the two numbers. Show your work. b) If the firm is under marginal cost pricing, how...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT