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Mathematics - Calculus in Commerce - Marginal Analysis

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Marginal Analysis

A manufacturer estimates that if x units of a particular commodity are produced, the total cost will be C(x) dollars, where

C(x) = x^3 - 24x^2 + 350x + 338

a) At what level of production will the marginal cost C'(x) be minimized?

b) At what level of production will the average cost
A(x) = C(x) / x be minimized?

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(a) C'(x) = 3x^2 - 48x + 350 and C "(x) = 6x - 48.

To minimize ...

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