If a manufacturer of lighting fixtures has a daily production cost of (x)=800-10x+0.25x^2 where c is the total cost in dollars and x is the number of units produced.
- How many fixtures, x, should be produced each day to minimize the cost?
- What would it cost, c(x) to produce that many fixtures?
Solution. Since c(x)=800-10x+0.25x^2=(0.5x-10)^2+700>=700,
we know ...
Quadratic equations are used to minimize cost.