A company uses the formula C(x) = 0.02x^2 - 3.4x + 150 to model the unit cost in dollars for producing x stabilizer bars. For what number of bars is the unit cost at its minimum? What is the unit cost at that level of production?
Please see the attached file for detailed solution.
The cost function is a parabola. And ...
The solution shows how to find the vertex of a parabolic cost equation in detail.